F1 News: Red Bull Announces Staggering Partnership Contract Extension
Red Bull has reportedly signed a record-breaking apparel deal ahead of the Saudi Arabian Grand Prix with precision performance sportswear brand Castore, estimated to be worth over $200 million.
Key Takeaways:
- Red Bull has inked a groundbreaking apparel deal with Castore, reportedly valued at over $200 million, ahead of the Saudi Arabian Grand Prix.
- The extended agreement will see Castore branding on the sportswear of Red Bull drivers Max Verstappen and Sergio Perez, building upon their existing partnership.
- Additionally, Castore's branding will be featured on the Red Bull Academy Programme for the 2024 F1 Academy season, as well as on the attire of three Red Bull drivers in the all-female series F1 Academy: Emely De Heus and sisters Amna and Hamda Al-Qubaisi.
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The agreement is actually an extension of its contract from last year and will involve the Manchester-based brand appearing on the sportswear of Red Bull drivers Max Verstappen and Sergio Perez.
In addition, the branding will also feature on the Red Bull Academy Programme for the 2024 F1 Academy season, apart from featuring on the attire of three Red Bull drivers in the all-female series F1 Academy, namely Emely De Heus and sisters Amna and Hamda Al-Qubaisi.
Speaking on the fruitful extension of their partnership, Castore co-founder Tom Beahon said in a statement:
“We’re thrilled to have expanded our partnership with Oracle Red Bull Racing.
"The length of this agreement demonstrates the trust they have in Castore to deliver products that help optimise the performance of the whole team and speaks to our commitment to Oracle Red Bull Racing’s goals to continue their charge to more wins and titles.”
Here's what Red Bull team principal Chrisitan Horner said about contract extension:
“From the start of our collaboration with Castore last year we knew we had found a partner whose commitment to innovation and advanced engineering matched our own and the trust we have in them to deliver performance improvement has only increased over the past 12 months and has led to this record-breaking new agreement.
"We’re also pleased that Castore’s faith in the team has extended to our activities in F1 Academy. That too is a ground-breaking initiative and having Castore on board to help our drivers in that series is a huge bonus.”