Red Bull introduced their new F1 car and a new title sponsor on Wednesday as computing firm Oracle took up a prime spot on the RB18.
American multinational computer technology corporation Oracle was an existing sponsor of the team throughout 2021, scaling up their involvement to become Red Bull's primary partner from 2022 onwards.
The new deal, which was announced as Red Bull revealed their all-new RB18, means the outfit will race as Oracle Red Bull Racing for the next five seasons.
Oracle logos will now be emblazoned on the livery of the Red Bull, including the sidepods – the team have only made that exception on one previous occasion, when Renault's luxury brand Infiniti was the title sponsor.
'The biggest F1 team sponsor ever'
The new partnership is set to be hugely financially beneficial for Red Bull, in an era where a tightening budget cap means teams are restricted to spending just $140 million dollars in 2022.
A source familiar with the deal told RacingNews365.com that the Oracle/Red Bull partnership sees the US tech giant become the biggest F1 team sponsor ever – eclipsing even the likes of Philip Morris International's long-term sponsorship of Ferrari.
With financial details not revealed by either party, reports elsewhere have valued the deal at around $100 million dollars per season, meaning a total figure of $500 million.
RacingNews365.com understands the true figure could range from between $75 to $90 million annually.
Aside from the financials of the deal, Red Bull will also make greater use of Oracle's cloud infrastructure to tighten up race strategies and help with the development of the new 2026 power units.
Other use cases will see Oracle applying artificial intelligence and machine learning technology to help Red Bull's junior driver programme, and the setting up of eSports team Oracle Red Bull Racing.
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