Red Bull team to announce new sponsor

UPDATE This rumor is upgraded to 'fact' today. Red Bull Racing today unveiled LG Electronics as its new Team and Technology Partner. LG is already heavily involved with Formula One, but this new, multi-season tie-in with Red Bull Racing allows the global leader in consumer electronics and technical innovation to reach an even broader market.

LG will supply Red Bull Racing with its latest products at both the track and the team’s Milton Keynes headquarters and its logo will appear on three prominent positions on the RB6 as well as the drivers' race overalls and underwear and their helmet visors.

Christian Horner, Red Bull Racing's Team Principal said: “We are delighted to welcome LG as a partner to Red Bull Racing. LG Electronics is an extremely innovative company which aligns well with the creative innovation that is demonstrated within Red Bull Racing. This partnership shows Red Bull’s appeal to like-minded partners and signifies the progress the team has made in the short space of time to attract premium brands like LG."

The partnership extends LG’s ongoing relationship with F1, it is already a Global Partner and a Technology Partner of Formula One and its brand presence has significantly increased in a sport which boasts one of the largest regular world-wide television audiences.

Dermot Boden, Chief Marketing Officer for LG Electronics, said: “It is thrilling to see two of the world’s leading innovation brands – LG Electronics and Red Bull Racing – come together as Formula One partners. ‘Life’s Good’ is an expression both LG and Red Bull Racing bring to life every day, by using technology to deliver emotional and exciting experiences to the millions of people who watch Formula One worldwide."

07/22/10 According to AR1.com sources, on Friday in Hockenheim South Korean electronics giant LG will announce that they will sponsor the Red Bull Racing F1 team and become a significant partner including branding on the car, uniforms etc.