Red Bull Racing have announced a sponsorship deal with software firm Oracle believed to be worth more than £100m per year.
The partnership will see the Formula 1 outfit become ‘Oracle Red Bull Racing’ ahead of the 2022 season, which starts next month.
The World Championship winning team, again made up of Max Verstappen and Sergio Perez, have today also unveiled their car ahead of testing in Barcelona later this month.
The deal will see the energy drinks manufacturer’s racing arm expand Oracle’s cloud software usage – including in the paddock and with fan experiences – with the partial aim of defending Red Bull’s World Championship and helping them to win the Constructors Championship.
Oracle Red Bull Racing team principle Christian Horner said: “Oracle Cloud enabled us to make race-day decisions that helped Max Verstappen win the 2021 Drivers’ Championship.
“Discovering and reacting to opportunities quickly, is crucial to our success on and off the track, and Oracle is integral in that effort.
“Every element of our performance is driven by data analysis.
“Having Oracle as our title partner shows the confidence we have in their expertise and their ability to deliver a true competitive advantage.”
Red Bull’s Max Verstappen clinched his first World Championship on the final lap of last season’s calendar finale race in Abu Dhabi.
The controversial finish provided the Formula 1 outfit with their first Championship since Sebastian Vettel’s fourth title – all of which came with Red Bull – in 2013.
Oracle are working with Red Bull powertrains to develop engines for Formula 1 which are set to debut in 2026.
The software firm will also invest further with Red Bull in Esports and junior driver data as part of the deal.
Oracle’s executive vice president Ariel Kelman added: “Red Bull Racing has been more committed than any other F1 team in its use of technology to gain an edge, and it is paying off.
“Our commitment to this partnership reflects our belief that OCI (Oracle Cloud Infrastructure) is a strategic weapon on race day, helps create the most exciting fan experience in sports, and can define the future of F1.
“Oracle Red Bull Racing is, and will continue to be, the most forward-thinking and innovative F1 team in the world.”
American tech firm Oracle were the second-largest software company in the world by revenue and market capitalisation as of 2020.
The firm’s 2021 accounts show a revenue of over $40bn (£29.5bn) and a net income of over $13bn (£9.5bn).