But Red Bull’s endorsement strategy goes beyond propping individual athletes. Red Bull owns four soccer teams: New York’s Red Bulls, red Bull Salzburg, Red Bull Brazil, and RB Leipzig. The brand also owns a NASCAR team and two Formula 1 racing teams. Many have asserted that team ownership is merely a hobby for Mateschitz, noting that none of these teams makes money. But Mateschitz says that misses the point. “In literal financial terms, our sports teams are not yet profitable, but in value terms, they are,” he says. “The total editorial media value plus the media assets created around the teams are superior to pure advertising expenditures.”