Red Bull have signed a multi-year partnership with cryptocurrency exchange Bybit in what the Formula One team said was the largest annual crypto deal in international sport so far.
The Milton Keynes-based team did not reveal a deal value in their statement issued on Wednesday but an informed source said it was worth $150 million over three years with Bybit becoming the squad's "principal team partner", a newly-created tier second only to "title partner."
The Bybit deal comes after Red Bull unveiled software giant Oracle as their title sponsor last week in a deal sources told Reuters was worth $300 million over five years.