Max Verstappen giving in extraordinary performances for Red Bull over the two years have bolstered their brand as a global sports entity. His desirability among the fans has only generated a mass fan following.
And obviously, such popularity invites lucrative brand deals and sponsorships. That’s what happened with Red Bull, with them getting new endorsements to boast over their livery every season.
Some have been so extraordinary that Red Bull has made itself self-sustaining in one of the most expensive operating sports. And don’t need the financial support of the team owners.
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Red Bull can now operate in F1 on their sponsors
Red Bull Racing boasts some of the most expensive sponsorship deals in F1. Their partnership with Oracle alone is above $100 million. Moreover, they have other prominent sponsors, like Esso, Tag Heuer, and Walmart, from whom they get handsome income.
With so much inflow, Red Bull commercial director Nick Stoker, as per Judge13, said that his team could survive just on the money coming from the sponsors.
With F1 teams limited to spending only $140 million to operate throughout the F1 season, operations prices have also come down, as teams are now obligated to spend in that bracket. Otherwise, earlier teams used to splash unlimited money.
Moreover, with the rising income in F1, all the teams have gained massively in finances. Even the lowest teams in the grid are financially stable, unlike a decade ago when teams went into administration out of nowhere.
In Red Bull’s case, they are also quickly expanding themselves in engine manufacturing operations. That requires massive investment and cash flow to run. So, over there, Red Bull would always need to have some support from the energy drink company even if other operations are well within their seasonal earnings.
Max Verstappen is aiming for the third title
Verstappen, in 2022, won his second title, this time quite comprehensively. With the new regulations imposed in 2022, Red Bull settled in them quite impressively.
That makes them likely favorites for the 2023 season. However, they have been imposed with a massive wind-tunnel penalty ahead of the next season, which could harm them against their closest rival Ferrari and probably Mercedes.
Now, it remains to be seen how Red Bull tackles that situation and rides ahead to secure their sixth title in their history and third title to Verstappen.
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