In 2022, Red Bull signed an agreement with Bybit, a cryptocurrency trading company that contributed a hefty $50 million per season to the team’s coffers. Now, this partnership has come to an end, and the Anglo-Austrian team is looking for new sponsors that could, if possible, further boost its revenues.
This transition should occur relatively smoothly, even without winning the constructors’ title. This highlights that the drivers’ championship is the true magnet for interest and sponsorships.
Gate.io will replace Bybit on the sidepods of the Red Bull RB21
SportsBusiness, a publication specializing in financial matters, reports that Red Bull is close to a new agreement, once again with a cryptocurrency company: Gate.io. The group is already active in sports, currently a prominent partner of Inter.
Gate.io is expected to take over the large space previously occupied by Bybit on the sidepods of the RB21, whose livery will be unveiled during the February 18 launch event. However, it remains unclear how much the group will contribute and whether it will match the amount provided by the previous sponsor.
In this regard, Red Bull has already announced two new partners for the 2025 season: the brokerage platform Avatrade and the video technology company Neat. Together with Gate.io, these partners are expected to generate more revenue than the former sponsor.
These financial adjustments aim to support the team’s effort to reclaim the top spot in the Formula One hierarchy after Red Bull slipped to third place in the constructors’ standings, overtaken by Ferrari and McLaren.
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