Red Bull Racing signed a new lucrative sponsorship deal with a crypto platform. The platform named ‘Bybit’ is a popular player in the Crypto world and has stroke a 3 year deal with the F1 giants. From the sponsorship, the Austrian giants will earn $150 million or £132 million roughly.

A deal worth $50 million a year is no doubt sensational. Red Bull, in fact, is already in a tie with two other crypto players. Namely, Tezos and Cash App. They’re with the 4-time constructor’s champions since last year.

As the world is getting used to the Crypto world, various crypto brands have now entered F1 for good. One of the biggest F1 associated deals in this sphere includes Crypto.com and the Miami Grand Prix. Alongside this, the cryptocurrency exchange app also has an association with Aston Martin.

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Max Verstappen’s impact on Red Bull popularity

The brilliant title win by Max Verstappen last year has popularized the Austrian team to a whole new level. The promising Dutch driver has impressed many across the globe with his impeccable driving skills. This resulted in big companies showing their interest more in the 5-time driver’s championship winners. With Red Bull already being a major F1 player from the last decade, they now have equal bragging rights as that of its rivals Mercedes and Ferrari.

To put the cherry on top, Red Bull announced a week earlier that they’ve gotten themselves in new 5-year title sponsorship worth around $500 million with American software giants Oracle. Hence, now the Energy drink owned team will be known as Oracle Red Bull Racing.

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