Red Bull Racing Renew Sponsorship With Sports Agency CAA
ed Bull Racing Honda Formula 1 team has renewed its sponsorship with their long-standing sports and entertainment partner, Creative Artists Agency (CAA).
Since 2014 CAA has held its role as the exclusive sponsorship agency for Red Bull Racing F1 team securing sponsorship deals with Tag Heuer, natural gas company Exxon Mobil, workspace software company Citrix, computer software company Oracle, and mobile payment service Cash App.
Over the next few years, CAA’s strategy and priority for the team is growing in the U.S.A as five of the nine new sponsorships for Red Bull Racing are companies headquartered in the U.S.A.
Besides CAA’s involvement in the Red Bull Racing Formula 1 team, they are also the exclusive global sponsorship agency for Formula 1 itself.
CAA has held their global sponsorship role since 2017, contracted until the end of the 2021 season.
Red Bull Racing Hinda CEO and team principal, Christian Horner said: “With the U.S Grand Prix in Austin already a popular fixture on the calendar and with Miami Grand Prix on the horizon for 2022, we’re looking forward to reaching even more fans and partners in the coming years together with CAA who will be integral in helping us realise that target.”
CAA Sports president, Paul Danforth added: “There has been a tremendous uptick in interest in Formula 1 in the U.S, largely among 16-25-year-old audiences, an incredibly important demographic for brands.
“We are proud to continue our long-standing relationship with Red Bull Racing Honda, one of the most exciting rights-holders in the world, and look forward to creating opportunities for brands in the U.S and globally to be part of the team’s culture and success,” Danforth said.