The Red Bull Racing Formula 1 (F1) motor racing team has today agreed a new sponsorship deal with Gate.io, the cryptocurrency exchange firm.
Through the agreement, the company becomes the team’s exclusive crypto-exchange partner, with its branding to feature on Red Bull race cars.
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Starting from the 2025 season, branding will feature prominently on key team assets, including the rear wing, nose, and headrest of the Red Bull Racing car, driver and pit crew suits, team kit, as well as on the helmet of four-time world champion Max Verstappen.
Gate.io effectively replaces rival cryptocurrency exchange platform Bybit after it failed to renew its deal with Red Bull Racing after the contract between those two parties came to an end following the conclusion of the 2024 campaign.
Christian Horner, CEO and Team Principal of Oracle Red Bull Racing, said: “Gate.io are a brand that very much share Oracle Red Bull Racing’s passion to exist at the forefront of technological innovation.
“Together, we look forward to building a more immersive and unique connection with the team for fans around the world and to working with a like-minded partner that isn’t afraid to disrupt the status quo.”
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By GlobalDataDr. Lin Han, the founder and CEO of Gate.io, added, “We are continuously advancing blockchain technology to bring greater transparency, speed, and efficiency to digital finance. This partnership comes at a time when blockchain is moving beyond finance, and we're excited to explore new ways it can intersect with global industries like motorsport.”
Gate.io’s most notable sports sponsorship came last year when the firm was named as the official sleeve partner for Italian soccer giants Inter Milan.
Red Bull Racing has announced several commercial deals in recent months, including a new partnership with sunglasses brand Maui Jim and a renewed tie-up with PPDS in January.
Towards the end of the 2024 season, the F1 outfit also announced two new sponsors in online trading broker AvaTrade and video technology firm Neat, with additional partners expected to be added before the 2025 season gets underway with the Australian Grand Prix on March 16.
Meanwhile, the Williams Racing F1 team has brought premium travel goods brand Carl Friedrik on board as an official licensee.
The deal will see the team and UK brand collaborate to create a co-branded travel collection, to include a cabin suitcase, backpack, and luggage tag.
The agreement is Williams’ second licensing announcement in recent days after a deal with luggage brand Built For Athletes.
The F1 outfit has also signed up Spanish bank Santander for 2025, while Duracell, Gulf Oil, and Kraken have extended their deals with the team for the upcoming campaign.
Additional sponsors secured over the past year include Pedal Mafia, Abercrombie & Fitch, SunGod, Coachbuilt Whisky, HalfScale Cars, and Lego.
