Red Bull F1 clinches new $500M title sponsorship with Oracle

KIFI

Published February 9, 2022 9:11 AM

By ROB HARRIS
AP Sports Writer

MILTON KEYNES, England (AP) — The Red Bull Formula One team has secured a new title sponsorship worth around $500 million with technology firm Oracle, placing it among the most lucrative commercial deals in sports. The five-year deal is a lift to the team ahead of the season when Max Verstappen will be looking to defend his world title in a new Oracle Red Bull Racing car that was also revealed. Financial details weren’t disclosed but a person familiar with the deal told The Associated Press it was worth around $100 million a year. The person spoke on condition of anonymity to discuss confidential terms.

Article Topic Follows: AP National Business

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