Red Bull, days after presenting the decoration of its new RB18, has announced the signing of an agreement with a company dedicated to cryptocurrencies , a sector on the rise within the economy. This is the largest annual sponsorship contract with a company of this style in the entire history of the sport.
Those of energy drinks confirmed a new main sponsor of the team, Oracle, which would be present, both in the name of the group, and on the side of the single-seater pontoons. Said sponsorship would help to recover the loss of Honda , and to finance the engine division Red Bull Powertrains created to build its own power units.
However, the Japanese decided not to leave Red Bull permanently, and said they would continue assembling the team’s engines until 2025.
Now the runners-up in the world have been supported by Bybit as the main partner, which makes a significant contribution. The plan is that it will help the group to increase the commitment of the fans to increase the market for the tokens or digital items.
Founded in 2018, Bybit is a company that manages contracts and gives merchants the rights to buy or sell crypto assets at a certain price on a future date.
In November, this giant became the main sponsor of the Argentine soccer team, and shows the intention of what will be seen in the sport.
Red Bull boss Christian Horner spoke about the deal: “They share the team’s passion for being at the forefront of technical innovation, for setting the pace of competition and disrupting the natural order.”
“Added to this is Bybit’s commitment to enhancing the Formula 1 fan experience through digital innovation. This is a key mission for the team, and Bybit’s help will help us build a deeper connection and unique with followers from all over the world”, explained the manager.
Bybit is the latest company to join a team on the grid, following in the footsteps of others like Crypto.com at Aston Martin, Binance at Alpine, or FTX at Mercedes.
