Red Bull Loses Partnership Worth $150 Million Ahead of 2025 F1 Season

Alex Harrington | Jan 2, 2025

May 4, 2024; Miami Gardens, Florida, USA; Red Bull Racing driver Max Verstappen (1) during F1 qualifying for Miami Grand Prix at Miami International Autodrome. Mandatory Credit: Peter Casey-Imagn Images / Peter Casey-Imagn Images

Red Bull Racing faces big changes ahead of the 2025 Formula One season, with the loss of a major sponsorship deal valued at $150 million amid changes to its team lineup. The partnership with Bybit, a cryptocurrency exchange, ended unexpectedly, impacting Red Bull's sponsorship portfolio.

Meanwhile, Max Verstappen has cemented his status as one of the world's best after winning his fourth Formula One driver's championship in 2024. This period of change also sees Liam Lawson stepping in to replace Sergio Perez as Verstappen's teammate, after a season where Perez finished substantially behind in standings.

Bybit has been removed from the list of @RedBullRacing partners heading into 2025 👀

The cryptocurrency platform joined the team on a multi-year deal at the start of 2022, reportedly worth $150 million.#F1 @Bybit_Official pic.twitter.com/chkfjhyIdB

— Decalspotters (@decalspotters) January 1, 2025

Max Verstappen recently secured his fourth Formula One driver's championship in 2024, solidifying his place as a leading figure in the sport. In Red Bull's 'Talking Bull' podcast, Verstappen showed interest in a livery change, wishing for a move from the matte finish adopted in recent years. Importantly, he also gave a nod to Sergio Perez's contributions to the team, despite noting the performance gap that led to his exit.

Perez, who had been with the team since 2021, saw his contract cut short following a lackluster season where he trailed Verstappen by 285 points. Consequently, Liam Lawson, an up-and-coming talent from Red Bull’s sister team, has been picked as his successor for the 2025 season.

Liam Lawson's move to Red Bull brings fresh dynamics and renewed energy to the team. His prior experience filling in for Red Bull’s sister team makes him a familiar face within the Red Bull family.

Sponsorship changes have added another layer of complexity to Red Bull's preparations for the upcoming season. Bybit, the Singapore-based cryptocurrency company that played a major role financially since 2022, cutting ties with Red Bull has removed a significant stream of revenue. The sponsorship, worth $150 million over three years, has come to an end.

Despite these challenges, Red Bull remains optimistic about the 2025 season. The team’s failure to secure the constructors’ championship has inadvertently provided them with additional wind tunnel time and CFD simulations. This will be advantageous for developing the RB21 model. Winning additional development time serves as a silver lining in their planning for the next season.

“We have, I guess, a positive. We won the drivers’, didn’t win the constructors’, so we gained a bit of wind tunnel time, in a way, maybe that’s positive,” Verstappen claimed.

Looking ahead, Red Bull is set to debut a new livery at London’s O2 Arena in February, an event coinciding with the celebration of 75 years of Formula 1.