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
With the existing partnerships, including the main sponsor Oracle, which continues to deliver around $ 100 million a year, Red Bull will be financially positioned for the upcoming challenges in the coming season. In the next few weeks, the team plans to announce other sponsors for the 2025 season, which indicates an exciting development in Formula 1.
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