Sports Events. As Red Bull built relationships through athletes and Teams, it wasn't long before it began sponsoring event. Today,Red Bull has its name on dozens of major annual events, including the Red Bull U.S. Grand Prix (MotoGP), Red Bull Wake Open (wake boarding), Red Bull Rampage (mountain biking), and Red Bull Sharpshooters (basketball), With such event sponsorships, Red Bull has more than once invented an entirely new sport.