The world of Formula 1 is as much about big contracts as it is about fast cars. Among them, the partnership between Red Bull Racing and cryptocurrency platform Bybit made waves.
Announced in 2022 as one of the most lucrative deals in motorsport history, the agreement was valued at $150 million over three years. However, after the 2024 season, the collaboration between these two giants seems to have ended. Here’s a look back at this remarkable partnership and its implications for the reigning champion team’s future.
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The Red Bull Racing and Bybit partnership
In 2022, Red Bull Racing and Bybit announced a $150 million deal, one of the largest ever signed by an F1 team. For Christian Horner, Red Bull’s team principal, the partnership symbolized innovation. Bybit, a young company founded in 2018, positioned itself as a key player in the digital revolution, mirroring Red Bull‘s daring and disruptive presence in F1. Bybit aimed to bring fans closer to the team through innovative digital solutions, such as tokens designed to enhance online engagement. The platform’s logo proudly adorned the rear wings and sidepods of Red Bull’s cars, giving the young company unprecedented visibility. In a market where cryptocurrency brands were increasingly aligning with motorsport—Alpine with Binance, Mercedes with FTX—this partnership was a bold statement.
A parting of ways after three successful years
At the end of the 2024 F1 season, the collaboration between Red Bull and Bybit came to an end. Despite discussions to extend the deal, the two parties were unable to reach an agreement. According to reports from RacingNews365, Bybit is no longer listed among the team’s sponsors for the 2025 season. Over the three-year partnership, Red Bull enhanced its image as an innovative team, launching initiatives like fan tokens to deepen digital engagement. However, the end of the partnership does not signal a significant setback for the team. With Oracle remaining as the title sponsor and new partners such as AvaTrade and Neet joining recently, Red Bull has strategically diversified its sponsorship portfolio.
Impacts on the Future for Red Bull and Bybit
The conclusion of this agreement raises questions for both parties. For Red Bull, losing $50 million annually may appear significant. Yet, the team remains strongly supported by top-tier sponsors and benefits from its dominant position in Formula 1, consistently securing world titles. The diversification of sponsors, particularly in finance and technology sectors, demonstrates Red Bull’s adaptability and forward-thinking strategy. For Bybit, this partnership offered exceptional global exposure. Before 2022, the company was relatively unknown, but its association with Red Bull significantly boosted its profile worldwide. However, the end of this F1 collaboration might reflect a broader slowdown in cryptocurrency platforms’ investments in sports, as the financial sector continues to grapple with market volatility.
This article explores the collaboration between Red Bull Racing and Bybit in F1, a $150 million partnership spanning from 2022 to 2024. From digital innovation to the evolving role of cryptocurrencies in F1, the deal redefined the intersection of technology and motorsport. As the two giants part ways, Red Bull prepares for a new chapter with fresh sponsors, while Bybit considers its next steps in visibility and growth.
Images: © Red Bull Content pool
