Red Bull REPLACEMENT talks confirmed as new signing imminent

Red Bull have edged closer to a new signing after replacement talks emerged concerning the Formula 1 team.

The Milton Keynes-based outfit will be looking to regain their constructors' crown in 2025, and bounce back after an uncharacteristically turbulent 2024 season.

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Despite enjoying a bright start, Sergio Perez endured a dramatic drop-off in performance, resulting in the Mexican being ditched at the end of the season, with Liam Lawson chosen to replace him for 2025.

However, the 22-year-old has the unenviable task of going up against Max Verstappen at Red Bull, with the four-time world champion renowned for dominating every team-mate he has been paired alongside.

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Red Bull's team principal, Christian Horner, has stated that consistency is key to reclaiming the constructors' title in 2025, with McLaren and Ferrari expected to be competitive straight away this season.

In a further blow back in 2024, it was revealed that the team had parted ways with one of its major sponsors following the conclusion of their lucrative three-year partnership.

Crypto exchange company Bybit joined Red Bull as a sponsor in 2022, in a deal that saw Red Bull receive a reported £119 million over the duration of the contract, but it was decided there would be no extension to the agreement.

However, it has now emerged that a new sponsor has been lined up to replace their former partner, with talks having taken place between Red Bull's representatives and crypto exchange Gate.io.

According to SportBusiness, Red Bull is reportedly in advanced stage discussions with Gate.io to fill its cryptocurrency sponsorship category.

The report continues that the agreement could be in place by the start of the 2025 season, with the crypto brand having explored an entry into F1 for a while with rival teams such as Ferrari.

Gate.io was founded in 2013, but made its first foray into sports sponsorship last year when it became a sleeve sponsor of football club Inter Milan.

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