Red Bull Racing Ends Bybit Sponsorship Deal

Red Bull Racing has officially parted ways with cryptocurrency exchange Bybit, ending a significant three-year partnership reportedly valued at £119 million ($150 million). The termination comes amidst financial challenges for Red Bull, which finished third in the Constructors' Championship in 2024 behind Ferrari and McLaren. Although discussions for a contract renewal were held, Bybit opted not to extend the deal, likely influenced by uncertainties in the crypto market. In contrast, Red Bull has secured a new sponsorship with AvaTrade, which features prominently on their RB20 car for the upcoming season. Team principal Christian Horner expressed enthusiasm for the partnership with AvaTrade, highlighting shared values and future collaborations. The loss of Bybit leaves a notable gap in Red Bull's financial backing as they prepare for the 2025 season.