Red Bull Racing says it has signed the most lucrative cryptocurrency sponsorship deal in international sport, after partnering with Bybit.
The outfit has labelled Bybit as a ‘top tier partner’ below only new title sponsor Oracle, which was signed in a long-term deal, reported to be worth up to $500m.
Bybit’s logos will feature prominently on the RB18, including on the front wing, and rear wing, and continues a growing trend of Formula 1 teams linking up with cryptocurrency companies.
“I’m delighted to welcome Bybit to the team,” said Red Bull team boss Christian Horner.
“It’s fitting too that, as we enter a new generation of competition of F1 in 2022, with an advanced and potentially game-changing new philosophy of cars taking to the track, that Bybit also exist at the cutting edge of technology.
“They share the team’s passion to exist at the forefront of technological innovation, to set the competitive pace and to disrupt the status quo.”
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