P1racenews AI automatic summary:
Red Bull has recorded a revenue increase in its Formula 1 team for the year 2023 after a dominant record-breaking season. The Austrian energy drinks brand has reported £307 million in revenues for the financial year of 2023, £30 million higher than the previous year. Red Bull’s overall profits dropped however, dropping to £1.2 million […]
In the financial year of 2023, the Austrian energy drinks brand reported revenues of £307 million, a £30 million increase from the previous year. Despite this, Red Bull’s overall profits decreased to £1.2 million from £2 million, attributed to success-based payments for the team’s performance in 2023. The team had a remarkable season in F1, with Max Verstappen winning 19 out of 22 Grands Prix and achieving a record-breaking 10-race winning streak. Red Bull extended its partnership with Hard Rock in a global alliance, showcasing their continued commitment to Formula 1 across various locations, including Miami and Las Vegas Grands Prix. Team Principal Christian Horner expressed pride in the partnership’s extension and highlighted plans for future collaborations to impress global audiences, including promoting the PINKTOBER campaign for breast cancer research at the Mexican and Brazilian Grands Prix with both Verstappen and Perez sporting pink overalls.
