Red Bull Racing rakes in another multi-million dollar deal with new sponsor

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F1 News

16 February 2022 at 10:18
Last update 16 February 2022 at 11:24
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  • GPblog.com

Red Bull Racing has signed another major sponsorship deal. From 2022, the name Bybit will also be seen on the car of Max Verstappen and Sergio Perez, with a sum worth $150 million.

New partner for Red Bull

Red Bull Racing has announced in a press release that a new deal has been signed with Bybit. The platform on which you can trade crypto coins has signed a multi-year deal with the Austrian team. The platform will become a 'Tech Incubator Partner', with which Red Bull will also be supported on a technological level.

''“I’m delighted to welcome Bybit to the Team. It’s fitting too that, as we enter a new generation of competition of F1 in 2022, with an advanced and potentially game-changing new philosophy of cars taking to the track, that Bybit also exist at the cutting edge of technology. They share the Team’s passion to exist at the forefront of technological innovation, to set the competitive pace and to disrupt the status quo,'' Christian Horner informed.

Huge sponsorship deal

''Allied to that is Bybit’s commitment to enlivening the fan experience in F1 through digital innovation. This is also a key mission for the Team and Bybit’s assistance will help us build a deeper more immersive and unique connection with the team for fans around the world."

According to Formula One journalist for De Telegraaf, Erik van Haren, the deal would be a three-year sponsorship deal worth $150 million. So after a sponsorship deal worth $500 million with Oracle, Red Bull Racing is striking another important blow.