Formula 1: Red Bull sign whopping new commercial deal worth nearly £400m

Red Bull launched their new car on Wednesday afternoon; the RB18, whilst they also announced a new name – Oracle Red Bull Racing – and the commercial deal that led to that is set to earn them a fair bit of bunce over the next few years.

Formula 1 is a sport that has always been awash with cash and this new title sponsorship deal that Red Bull have struck with Oracle is set to be one of the most lucrative of its type in all of sport.

Indeed, the agreement stands to earn Red Bull nearly £400m over the course of five years, in a deal that will undoubtedly help them remain at the very front of the grid in F1.

According to The Associated Press, the agreement is worth $100m a year over the next five years and that, all in, stands at £369m.

Oracle have already been a sponsor of Red Bull but will now take over from Honda as the most prominent brand on the car (aside from Red Bull itself,) with their launch on Wednesday showing off the new logos on the side-pod and rear wing.

Indeed, the battle for finances in F1 is just as fierce as the battle for technical advancement and, of course, points and places on race day, and though Red Bull are hardly strapped for cash as a race team, this is only going to be a further welcome boost for them.