Red bull loses millions: Bybit sponsoring ends before the start of the season!

Red bull loses millions: Bybit sponsoring ends before the start of the season!

The exciting developments in Formula 1 take their course! Red Bull Racing faces a big challenge because the important partner Bybit has ended his collaboration with the team. The three-year contract, which began in 2022 and expired in 2024, brought around $ 50 million annually and was one of the team's most valuable sponsorship contracts, directly behind the main sponsor Oracle. This decision not to extend the contract could mean more than $ 150 million costs for Red Bull, such as f1i.com reported.

bybit, a platform for cryptocurrencies, was a visible part of the Red Bull identity, with his logo on the rear wing and team clothing. The withdrawal falls during a time increasingly stricter regulations in the cryptocurrency sector and the associated changes in the sponsorship strategies of the Formula 1 teams. Despite this, BYBIT left the cooperation according to the market movements and the change in Red Bull's brand identity, so "https://www.berlin-live.de/sport/sportel-1-f1-f1-news-bull-bull-bull-bull-id345146.html"> berlin-live.de. .

new sponsors come into the game