- RNF had been looking for third title sponsor in three years
- CryptoData has three-year title sponsor deal with Austrian GP
MotoGP's RNF Racing have sold a majority stake to CryptoData Tech following the blockchain technology company's sponsorship of the team for the final three races of 2022.
RNF Racing will continue to compete as an independent team and Razlan Razali will continue in his role as team principal.
The Malaysian team had been looking for their third title sponsor in three seasons, following collapsed deals with Italian energy company WithU and Malaysian oil giant Petronas.
But Carlos Ezpeleta, sporting director of Dorna Sports, the promoter of MotoGP, told the BlackBook earlier this year that he had every confidence “the team will continue”. RNF have a contract to compete in MotoGP until 2026, although that did not prevent Suzuki from dropping out at the end of this season.
“In a short period of time, discussions have evolved into a long term commitment. We have extended our partnership, and this is a fantastic collaboration,” said Razlan Razali, founder and team principal of RNF Racing.
“The union of the two companies will drive the team to not just perform in racing, but also to grow the business aspects of the team, and this is where both parties join forces to share expertise and experience. My main focus is to ensure the team fights for the championship while CryptoData’s team consisting of young, smart, innovative, and ambitious individuals will develop strategies to strengthen our position off track.
“With the experience from our previous successes, the same strong and passionate crew from our MotoGP garage, and a solid rider line-up, we are set for a competitive comeback with CryptoDATA for the next season.”
Ovidiu Toma, chief executive founder pf CryptoData Tech, added: “We are delighted to extend our partnership and become the majority shareholder of the RNF MotoGP Team. The MotoGP world championship is an exclusive and international showcase, a special universe where the starting grid is a stage for heroes in which CryptoData has found its space by sharing its values and objectives.
“We became the first Romanian company to title sponsor a MotoGP Grand Prix at the Red Bull track this year, and we are now more excited and motivated than ever to become the majority shareholder in the RNF Team. This represents not only a historical milestone for CryptoData, but also a new beginning and a significant incentive.
“We look to 2023 with optimism and confidence as our team is led by trained, serious, and experienced managers. We will do our best to support the team to achieve their goals and to reach their highest potential in MotoGP.”