Red Bull signs $695m sponsorship deal with Oracle: F1 news 2022

Red Bull has made a monster $695 million move ahead of the new F1 season that will result in a change for Max Verstappen and Co. in 2022.

Red Bull has signed a huge $695 million sponsorship deal which will see its team name changed for the new F1 season.

The five-year deal, signed with Oracle, means the team will be known as Oracle Red Bull Racing.

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The agreement with the US tech giant is one of the most lucrative in global sport and Red Bull chief Christian Horner believes it comes at an ideal time because of the new season cost cap of $201 million for F1 teams.

Horner told AP: “We’re all about speed and the speed of response.

“We’re pushing the Oracle technical guys. But they’re responding in the best possible way. And that’s what makes this partnership very exciting.

“We’ve got a brand new set of regulations, a new technical challenge.

“We’ve got financial regulations that are driving and forcing efficiency, which is again where this partnership helps us to make sure that we’re as efficient and productive as we possibly can be.”

According to the reigning F1 champions, using the Oracle Cloud Infrastructure increased the number of strategy simulations run by 1000 time and improved accuracy by 10 times.

Red Bull also said it will have “expanded use of Oracle Cloud across its most significant areas of operation including analytics-based race strategy, optimised engine development, AI and machine learning-powered driver training and a tailored fan experience”.

Fans of world champion Max Verstappen also got look at Red Bull’s new car on Thursday (AEDT). The Dutchman will take his new vehicle out for a spin at pre-season testing in Barcelona later this month.

“It looks a bit different, but at the end of the day it’s still a Formula 1 car,” Verstappen said.

“At testing we can do a lot of laps and get a lot of information about the car, which is important. I’m looking forward to it.”

This article originally appeared on The Sun and was reproduced with permission

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