Red Bull has revealed U.S. tech giant Oracle is its new title sponsor, with the team to be officially named as Oracle Red Bull Racing in a reported $100m-a-year deal.
The Austin-based company was already a partner prior to 2022, but now steps up to replace Honda following the Japanese manufacturer’s departure from Formula 1. Team principal Christian Horner says the expanded deal is a sign of Oracle’s importance to Red Bull, as the team says it was able to run 1,000 times as many simulations pre-race as a result of the partnership.
“Oracle Cloud enabled us to make race-day decisions that helped Max Verstappen win the 2021 Drivers’ Championship,” Horner said. “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.”
Oracle branding appears on the rear wing and side pods of the new RB18, and Oracle executive vice president Ariel Kelman says the way the company can help Red Bull connect with more fans also played a part in the title deal.
“Red Bull Racing has been more committed than any other F1 team in its use of technology to gain an edge, and it is paying off,” Kelman said. “Our commitment to this partnership reflects our belief that OCI (Oracle Cloud Infrastructure) is a strategic weapon on race day, helps create the most exciting fan experience in sports, and can define the future of F1. Oracle Red Bull Racing is, and will continue to be, the most forward-thinking and innovative F1 team in the world.”
The Associated Press reports the five-year deal is worth around $500 million in total – or $100m per year – making it one of the most lucrative sponsorship deals in sports.