Red Bull Racing will be known as Oracle Red Bull Racing next season onwards in what is set to be the biggest sponsorship deal in F1 history.
At their car launch event yesterday, Red Bull announced that they have a new title sponsor on board. Software giants, Oracle, have signed a five year partnership with the F1 team, in what is the most lucrative deal in F1 history.
Team Principal Christian Horner and Oracle’s Chief Marketing Officer Ariel Kelman were present at yesterday’s event. There, Horner broke the news of the American team being their new partner and explained to fans how they would work together moving forward.
— Oracle Red Bull Racing (@redbullracing) February 9, 2022
Horner said that they would make greater use of the company’s cloud infrastructure to improve the accuracy of their race strategies. He also added that Oracle would help them with their newly launched power-train department.
As Red Bull reveled their 2022 car, fans also saw that the Oracle name really stood out on their livery. It increases the American market’s influence in the sport since US based Liberty media acquired F1 back in 2017.
The deal is lucrative, but how much will Red Bull actually earn from their new major deal?
Oracle’s deal with Red Bull is bigger than Ferrari’s partnership with Philip Morris
A budget cap has been set for all teams from 2022 onwards. All F1 teams will only be allowed to spend a maximum of $140 million per season.
With F1 entering a new era and engine regulations set to change in 2026, teams will be looking for as much resources as possible to boost their research and development for the same.
Oracle’s deal with Red Bull is more lucrative than Philip Morris’ long term partnership with Ferrari. Neither company actually revealed how much they would pay/earn.
However, according to reports, the Milton-Keynes team is set to earn $100 million per year. A five year deal means that the entire partnership is worth $500 million.
According to RacingNews365.com, the actual figure lies around the region between $75-$90 million per year. In addition to helping in their F1 pursuits, Oracle will also use machine learning technology to boost Red Bull’s junior program, and their E-sports team.