In a landmark agreement, Visa becomes the global partner of Red Bull Formula 1 teams. This major sponsorship sees AlphaTauri rebranded as Visa Cash App RB, heralding a new era.
Visa is set to become a global partner of the two Red Bull Formula 1 teams under a multi-year agreement, with AlphaTauri being rebranded to become Visa Cash App RB starting from 2024.
The full look of Visa Cash App RB, including the livery of its 2024 car, will be unveiled at a special launch event in Las Vegas on February 8th.
This is the latest name for a team that has existed as Minardi from 1985 to 2005 before transitioning to Toro Rosso following its acquisition by Red Bull.
A name change was undertaken prior to 2020 to promote Red Bull’s fashion brand AlphaTauri, but after four years, the outfit will become Visa Cash App RB.
The Visa logo will appear on both Red Bull Racing Formula 1 and Visa Cash App RB cars, and the two F1 Academy vehicles will be supported by the company.
This marks the first major new sports sponsorship deal by Visa in 15 years.
“It’s fantastic to unveil the new identity and welcome new partners as we embark on the next phase of the team’s Formula 1 history,” said Peter Bayer, CEO of the Visa Cash App RB team.
Visa Cash App RB Launches New Era in Formula 1 Racing
“Faenza is entering a new racing era, staying true to our roots as a talent reservoir, but now focusing even more on competing for the top prizes in F1.”
“We have an ambitious vision for the team led by myself and Team Principal, Laurent Mekies, and having forward-thinking partners like Visa and Cash App on this journey is extremely exciting.”
“The birth of Visa Cash App RB is an extremely significant moment,” stated Oliver Hughes, Director of Marketing at Red Bull Technology.
“The new identity is not just a name change, it marks the start of an exhilarating new journey designed to elevate the team to new levels of competitiveness, underscored by the presence of one of the world’s most iconic brands as the team’s title partner.”
“However, like the team, Visa is firmly focused on the future, moving from its position as a global leader in its core business to a global leader in developing digital financial services for everyone, everywhere. In line with this commitment to future finances, Cash App joins the team as a key partner and as one of the most downloaded financial apps. The team’s new identity, under the name Visa Cash App RB, builds on a future where the team will charge towards the front of the grid every weekend.”
Visa Cash App RB Restructures, Ricciardo and Tsunoda Join
The team underwent thorough scrutiny following the passing of Red Bull co-founder Dietrich Mateschitz in late 2022, with the new management opting to forge closer ties with Red Bull.
Visa Cash App RB is in the process of relocating some of its UK-based facilities closer to Red Bull Racing in Milton Keynes to strengthen their connections.
Bayer joined the team as the new CEO in mid-2023, while Mekies assumed his role as the new Team Principal at the beginning of January, replacing Franz Tost.
Visa Cash App RB, which finished eighth in last year’s championship under the AlphaTauri name, will field Daniel Ricciardo and Yuki Tsunoda as their driver duo.
The official presentation dates for the 2024 Formula 1 teams.
| Date | Team | Location |
|---|---|---|
| 5 February | Williams F1 | New York |
| 5 February | Stake F1 | London |
| 7 February | Alpine F1 | Location yet unknown |
| 8 February | Visa Cash App RB | Las Vegas |
| 11 February | Haas F1 | Shakedown |
| 12 February | Aston Martin F1 | Silverstone |
| 13 February | Ferrari | Maranello |
| 14 February | Mercedes F1 | Silverstone |
| 14 February | McLaren F1 | Location yet unknown |
| 15 February | Red Bull | Location yet unknown |
AlphaTauri Visa Cash App F1 2024. AlphaTauri Visa Cash App F1 2024.
- Read More>RED BULL BRACES FOR FIERCE RIVALS IN 2024 F1 RACE
- Following us on Facebook and Twitter.
