The Red Bull Formula One team have agreed a record-breaking contract extension with British sportswear brand Castore worth more than US$200 million.
Contract:
- Expanded collaboration includes the Formula One and F1 Academy teams
- Red Bull says deal is ‘the single largest commitment by duration and value of a sportswear brand in the history of the motorsports’
Context:
Castore first agreed a partnership with Red Bull in September 2022, which added to its existing deal with the McLaren Formula One team. The brand will continue to supply the Red Bull team and its drivers, Max Verstappen and Sergio Perez, as well as the Red Bull-supported drivers in F1 Academy – Emely De Heus, Amna Al-Qubaisi and Hamda Al-Qubaisi.
The latest pact follows an investment round for Castore in November 2023, which raised UK£145 million (US$184 million) and valued the company at nearly UK£1 billion (US$1.3 billion).
Comment:
“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,” said Christian Horner, team principal of Red Bull Racing.
“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.”
Coming next:
Formula One returns for its second race of the season in Jeddah, Saudi Arabia from 7th to 9th March.
Go deeper:
- “Pivotal moments are driven by data”: Christian Horner on Red Bull Racing’s Oracle partnership
- Red Bull F1 agree three-year Ansys extension
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