$146 MILLION Red Bull sponsor exits team as 2025 season nears

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F1 News & Gossip

$146 MILLION Red Bull sponsor exits team as 2025 season nears

Red Bull have been dealt a blow in 2025

Originally written by Sheona Mountford. This version is a translation.

Thursday 9 January 2025 20:00

Red Bull will part ways with a major sponsor this year, in a move that will remove millions in revenue from the team.

The previously dominant team dropped from first to third in the Formula 1 constructors' championship last year, in a rough year on and off the track.

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At the beginning of the year Red Bull were rocked by internal instability following an investigation into the conduct of team principal Christian Horner, who was subsequently cleared of any wrongdoing.

However, the team lost two key figures over the course of 2024, including design legend Adrian Newey and their sporting director Jonathan Wheatley, who will both join rival teams Aston Martin and Sauber.

The 2024 season contained highs and lows for Red Bull

Red Bull was rocked by the departure of Adrian Newey

Red Bull lose key sponsor

Crypto exchange company Bybit will end their partnership with the team after three years together, a deal that saw Red Bull receive a reported $146m over the course of the deal.

The brand allegedly decided to not renew their deal due to the uncertainty in the crypto market, but Horner has since turned his attention to a new sponsor for the 2025 season.

Red Bull were buoyed by the announcement of a multi-year partnership with AvaTrade, who debuted with the team at the 2024 Abu Dhabi Grand Prix.

AvaTrade debuted with Red Bull in Abu Dhabi

"Everyone at Oracle Red Bull Racing is excited to be welcoming AvaTrade to the Red Bull family and to see them proudly displayed on the RB20 in Abu Dhabi as we celebrate the end of the 2024 season," Horner said on the signing.

"This is a unique partnership that has combined our shared values of maximizing potential and achieving success – whilst pushing the limits.

"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.

"We look forward to reaching new heights together in 2025 and beyond."

Red Bull Christian Horner Aston Martin Adrian Newey Sauber Jonathan Wheatley