Red Bull Racing announces new title sponsor for 2022 F1 season
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- GPblog.com
Oracle has become the new title sponsor of the Red Bull Racing Formula One team. The team announced this at the start of the launch of the RB18 for 2022. With that, the team name changes at the same time: Red Bull Racing Honda will become Oracle Red Bull Racing.
Red Bull Racing announces new main sponsor
The software giant has been a partner of the team for some time, but the two parties have now strengthened that partnership. That means Honda will be replaced as title sponsor and that honour will now go to Oracle.
According to Red Bull team principal Christian Horner, there was already an important role for the sponsor in 2021. "Oracle Cloud enabled us to make race-day decisions that helped Max Verstappen win the 2021 Drivers’ Championship. Discovering and reacting to opportunities quickly, is crucial to our success on and off the track, and Oracle is integral in that effort. Every element of our performance is driven by data analysis. Having Oracle as our title partner shows the confidence we have in their expertise and their ability to deliver a true competitive advantage," the Brit said.
'New Red Bull deal worth 500 million dollars'
The new sponsorship deal would be worth a staggering $500 million over five years, APnews.com reports. So Oracle would be worth about $100 million a year, making it one of the most lucrative commercial deals in the sport.