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Red Bull and Bybit Part Ways: $150 Million Crypto Deal Ends as Team Gears Up for 2025

David Castro by David Castro
January 3, 2025
in Motorsports
Reading Time: 3 mins read
0
Red Bull and Bybit Part Ways: $150 Million Crypto Deal Ends as Team Gears Up for 2025

LUSAIL CITY, QATAR - DECEMBER 01: Max Verstappen of the Netherlands driving the (1) Oracle Red Bull Racing RB20 leads Lando Norris of Great Britain driving the (4) McLaren MCL38 Mercedes on track during the F1 Grand Prix of Qatar at Lusail International Circuit on December 01, 2024 in Lusail City, Qatar. (Photo by Clive Mason/Getty Images) // Getty Images / Red Bull Content Pool // SI202412010383 // Usage for editorial use only //

Formula 1 powerhouse Red Bull Racing has officially ended its partnership with cryptocurrency sponsor Bybit ahead of the 2025 season, closing the book on a three-year, $150 million deal that once made waves in the F1 sponsorship landscape.

The Singaporean crypto exchange’s deal, which began in 2022, prominently showcased Bybit’s branding on Red Bull’s RB20, from the front and rear wings to the team’s high-profile appearances—except during the Chinese Grand Prix, where crypto advertising was restricted. Despite discussions to extend the lucrative partnership, the two parties couldn’t reach an agreement, signaling the end of an era.

Why the Split? Crypto and F1’s Shifting Landscape

Red Bull’s decision to part ways with Bybit reflects the changing priorities of F1 teams. With the cryptocurrency market facing increased scrutiny and volatility, teams are leaning toward partnerships offering tangible mutual benefits, such as technical integration or direct consumer engagement.

Although the Bybit deal was one of Red Bull’s largest sponsorships, contributing $50 million annually, it has been overshadowed by other key partners like Oracle, which reportedly invests up to $100 million per year. This shift underscores Red Bull’s intent to align with brands that resonate with its evolving strategy.

New Players Step In: AvaTrade and Neat Join the Lineup

Filling the void left by Bybit, Red Bull has secured two major partnerships for the 2025 campaign:

  1. AvaTrade: The online trading broker signed a multi-year deal, marking its largest-ever foray into Formula 1. AvaTrade’s logo made its debut on the RB20 at the Abu Dhabi Grand Prix and will feature prominently on the RB21 and the race suits of drivers Max Verstappen and Liam Lawson in 2025. The partnership extends beyond the track, with AvaTrade supporting Red Bull’s F1 Academy program and sponsoring the team’s Talking Bull podcast.
    Christian Horner lauded the deal, saying:
    “This partnership shows the depth of the world of Red Bull and the exciting opportunities in F1.”
  2. Neat: Making its F1 debut, Neat, a video conferencing and collaboration tools company, has also joined the Red Bull sponsor family. Neat’s logo will appear on the RB21, pit crew helmets, and trackside displays. Beyond visibility, Neat’s technology will be integrated across Red Bull’s operations to streamline communication and enhance team efficiency.

What’s Next? More Deals on the Horizon

Even with AvaTrade and Neat stepping in, Red Bull is expected to announce additional sponsorships ahead of the 2025 season. The team’s livery presentation at London’s O2 Arena on February 18 promises to unveil these partnerships, setting the stage for what Red Bull is calling the F1 75 season.

Strategic Sponsorships in the Cost-Cap Era

In the cost-cap era of F1, even dominant teams like Red Bull must balance budgets while maintaining competitive performance. Losing a $50 million annual sponsor like Bybit underscores the financial pressure teams face, even those at the top of their game. By pivoting to partnerships with companies like AvaTrade and Neat, Red Bull demonstrates its adaptability in forging relationships that align with its strategic vision.

With Max Verstappen and Liam Lawson leading the charge in 2025, Red Bull’s revamped sponsorship lineup aims to fuel the team’s continued success both on and off the track.

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