Formula 1 often recognized for its advanced technology, operates in a realm where financial strength is as vital as on-track skills. This compels organizations to seek support, frequently through lucrative sponsorship deals. Interestingly, sponsors not only infuse much-needed capital into teams but also contribute to brand visibility. In achieving this visibility, Red Bull, according to recent reports, has taken the lead. The Austrian Outfit has secured the top spot with an impressive $90 million deal with Oracle.
Biggest Sponsorship deals of the current F1 teams
1. Oracle – Red Bull Racing – $90 million
2. Aramco – Aston Martin – $75 million
3. Petronas – Mercedes – $70 million
4. Stake – Stake F1 Team – $50 million
5. Bybit – Red Bull Racing – $40 million[@Racingnews365] pic.twitter.com/PygKtVTGv6
— RBR Daily (@RBR_Daily) January 13, 2024
Ahead of the 2022 F1 season, Red Bull revealed their new F1 car and title sponsor Oracle simultaneously. Oracle is an American multinational computer technology corporation that was already a sponsor in 2021 but increased its involvement to become Red Bull’s primary partner. The renewed partnership extends for an additional four years, following an initial five-year agreement.
However, much to the astonishment of fans, Oracle not only provides financial support to Red Bull but also contributes significantly. The Oracle plays a crucial role in aspects such as race strategy, engine development, sim racing, and fan engagement. Team principal Horner openly acknowledged Oracle’s role, highlighting how they played an important role in making race day decisions that ultimately led to Max Verstappen’s 2021 title.
Apart from Oracle, Red Bull has also forged a partnership with cryptocurrency exchange platform Bybit in 2022. Bybit has become the Principal Team Partner, standing just behind the Title Partner Oracle. Nevertheless, despite being a substantial agreement valued at $40 million, this collaboration is ranked as the fifth largest among the top five sponsorship deals.
Who aside from Red Bull is in the list?
Red Bull has consistently captured attention not just for its lucrative deals but also for how these agreements have shaped the team’s trajectory. However, mirroring Red Bull’s ambition for the top spot, Lawrence Stroll’s Aston Martin has prolonged its collaboration with sponsors. The Silverstone-based team has renewed its partnership with Aramco for an additional five years, continuing a relationship established in 2022.
Aramco is not only extending financial support but is also poised to contribute advanced technology to Aston Martin, specifically in developing advanced fuel and lubricants crucial for the team’s drivers. With this five-year agreement, Aston Martin secures the second-largest sponsorship deal.
In the third position is the highly successful partnership between Mercedes and Petronas, valued at $70 million. Since the collaboration commenced in 2010, it has played a pivotal role, contributing significantly to the team’s success. Together, they have amassed a total of 15 championships, including 8 constructors’ titles and 7 drivers’ titles.
Although the current agreement is set to conclude by the end of 2025, Mercedes, in preparation for a complete shift to sustainable fuels, is eager to hasten the collaboration. Interestingly Mercedes team principal Toto Wolff has personally announced the new deal.
Ranked fourth among the top 5 sponsors in current F1 teams is Stake, a Switzerland-based company. The firm is set to collaborate with Stake’s F1 team for the next two seasons, with the reported sponsorship amount reaching an impressive $40 million. Previously, Alfa Romeo underwent an official transformation, evolving to become Stake. This marked an extension of the ongoing partnership that initially started with Sauber.
