Red Bull seems to have parted ways with one of its sponsors, Bybit. The Milton Keynes-based outfit has removed the cryptocurrency exchange from its website — a decision which could have ramifications on the team’s commercial plans.
Then again, that dent could be easily covered by Red Bull’s sponsorship force. The split, on the other hand, can be taken as an indicator the Austrian team is looking for more than money in sponsors.
While the revenue the sponsors bring in is important, F1 teams also prioritize tie-ups based on the expertise in innovative and technical fields the partners could potentially provide. Innovations that could help boost their performance on track.
Red Bull‘s deal with the Singapore-based cryptocurrency exchange began in 2022 when they signed a $150 million three-year deal which ran out at the end of 2024. The amount is surely a significant sum to miss out on.
With Bybit removed from Red Bull’s partner’s page, it can’t be stated enough how great these cars looked with a Red Bull or Honda-branded rear wing.
Would be awesome to see either one again. https://t.co/f4PVUAIH7R pic.twitter.com/yFXjKIHXN2
— Daniel Valente ️ (@F1GuyDan) January 1, 2025
However, Red Bull do not have a dearth of sponsor support. Bybit paid $50 million per season, while Oracle, its main sponsor, reportedly contributes $90 million annually.
And, when it comes to the question of technical impact, the partnership with Bybit had nothing to offer on the performance side of operations. Its contributions were limited to fan engagement through NFTs, something Red Bull has presumably decided to move away from. With increasing scrutiny on cryptocurrency exchanges, this seems a wise move.
On the other hand, companies like Oracle are integral to Red Bull’s on-track progress. Oracle’s software, for instance, is extensively used by Red Bull’s pit wall to make strategic calculations.
It remains to be seen now whether the team will bring on a new sponsor from cryptocurrency or other sectors unrelated to racing. Or would it be a technical partnership: A deal similar to what Red Bull has with Oracle to bolster its racing base for 2025 and beyond.
