Red Bull F1 exit revealed in £119...

Red Bull F1 exit revealed in £119…read more

Red Bull Racing has been hit with a significant blow as it faces a £119 million exit from one of its major sponsors ahead of the 2025 Formula 1 season. Despite winning the 2024 drivers’ title with Max Verstappen and dominating the track in recent seasons, the Milton Keynes-based team has encountered a series of challenges both on and off the track.

The turmoil for Red Bull began earlier in 2024 when an internal investigation was launched into the conduct of team principal Christian Horner. Though Horner was cleared of any wrongdoing, the scrutiny placed the team in a difficult position. On top of this, Red Bull faced a considerable loss of key personnel. Adrian Newey, the team’s design mastermind behind their dominant car designs, and Jonathan Wheatley, their sporting director, both left the team in 2024. These two prominent figures are set to join rival teams—Aston Martin and Sauber, respectively—further compounding the team’s troubles.

However, one of the biggest financial blows comes from Red Bull’s sponsorship landscape. The team has now confirmed it will part ways with its major sponsor, Bybit, after the expiry of their three-year partnership. The crypto exchange company joined Red Bull in 2022, with the agreement reportedly valued at £119 million over the three-year term. However, Bybit has decided not to renew the deal, citing ongoing uncertainty in the volatile crypto market. This decision has left Red Bull facing a significant financial gap as they enter the 2025 season.

Despite the loss of Bybit, Red Bull has already secured a new sponsor to help fill the void. In late 2024, the team announced a new multi-year partnership with AvaTrade, a well-known online trading platform. AvaTrade made its debut with Red Bull at the 2024 Abu Dhabi Grand Prix, marking the beginning of what the team hopes will be a long and fruitful collaboration. Red Bull Racing’s principal, Christian Horner, expressed excitement over the new partnership, highlighting the shared values between AvaTrade and the team, particularly in their pursuit of maximizing potential and achieving success.

“This is a unique partnership that has combined our shared values of maximising potential and achieving success—whilst pushing the limits,” Horner said in a statement. “The partnership expanding to F1 Academy and Talking Bull shows the commitment and amazing working relationship that the team already has with AvaTrade, and shows the depth of the world of Red Bull and exciting opportunities in F1.”

Red Bull’s partnership with AvaTrade also extends beyond Formula 1, as the collaboration will involve F1 Academy and other initiatives like the “Talking Bull” series. These efforts demonstrate the team’s aim to broaden its brand influence and reach more diverse audiences through various platforms and projects. Red Bull’s leadership hopes that this new sponsor will bring not only financial support but also the long-term commitment that they will need to continue their dominance in the sport.

Looking ahead, Christian Horner remains optimistic about Red Bull’s ability to recover from the losses they’ve faced. He emphasized that the team was focused on securing new partnerships and continuing to perform at the highest level, both on and off the track. With a new sponsor on board, as well as the arrival of talented drivers and personnel, Red Bull will be determined to ensure the setbacks of 2024 do not hinder their success in 2025.

For now, Red Bull Racing is shifting its focus towards maintaining its competitive edge in F1. Even though the departure of key figures like Newey and Wheatley, combined with the end of the Bybit partnership, presents significant challenges, the team remains a formidable force in motorsport. They will likely continue to pursue further sponsorship opportunities, looking for new ways to stay at the forefront of Formula 1, while aiming to defend their titles and keep their position as the team to beat in the years ahead. The new partnership with AvaTrade could serve as the foundation for this next chapter in Red Bull’s F1 journey, as they prepare for the challenges of the 2025 season.