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Red Bull name new title sponsor in $500m deal
The Red Bull Formula One team has secured a new title sponsorship worth around $500 million with technology firm Oracle, placing it among the most lucrative commercial deals in sports. The five-year deal is a lift to the team ahead of the season beginning next month when Max Verstappen will be looking to defend his world title in a new Oracle Red Bull Racing car that was also revealed on Wednesday. Financial details were not disclosed but a person familiar with the deal told The Associated Press it was worth around $100m a year. The person spoke on condition of anonymity to discuss confidential terms. Editor's Picks Why Perez believes he can beat Verstappen in 2022
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