Oracle did not prohibit Red Bull from signing a new sponsor

      Before the start of the 2022 season, the Red Bull Racing team concluded one of the most lucrative sponsorship agreements in the history of Formula 1, signing a five-year contract with Oracle, worth about $100 million a year. The American IT giant became the team's title sponsor, and the partnership continues to this day. The previous day, a number of publications reported that Red Bull had agreed a new $5 million-a-year sponsorship deal with Perplexity, a company that has developed an AI-based search engine, but Oracle blocked the deal. However, according to PlanetF1, such press reports are untrue, as Oracle has no say in the team's choice of sponsors. Oracle is believed to have expressed concerns to Red Bull about the potential for a new sponsorship deal. As a result, the team independently decided not to partner with Perplexity.