Racing Bulls CEO, Peter Bayer, champions the Visa and Cash App sponsorship, viewing it as a strategic move towards a bolder identity and increased prominence.
Peter Bayer, CEO of Racing Bulls, also known in F1 as RB, asserts that the identity change with sponsors Visa and Cash App is not an issue. He believes this allows the team to achieve greater prominence and also forge a new identity.
“It’s obviously a risk, but we’re not just changing our name and slapping a few logos on our jackets,” Bayer told RACER. “Laurent [Mekies, director] and I have literally shaken the tree, and many people have joined the team.”
“Significant investments are underway with the new performance center in the UK, we have a new driver lineup that’s a bit different from the past, a very experienced driver with a promising yet now established driver, so there’s a lot going on that contributes to the identity we’re trying to establish.”
Racing Bulls: Identity Beyond Sponsorship Change
“In the end, the bull and the RB are the solid elements that will always remain, but I obviously hope that we’ll stay with Visa and Cash App for a long time, and that they’ll also contribute to this identity.”
“I’ve seen, at many events, that there are always pros and cons to having naming rights partners, that people might fear you’re selling a part of your identity, but honestly, I don’t think that’s the case here.”
“There are only ten Formula 1 teams in the world, and people know we’re one of them. With everything we’re doing to establish a strong identity, I’m sure we’ll soon be perceived as VCARB, on the grid, as one of the competitors wanting to fight for the top of the midfield and having a great team.”
He explains that the team wants to maintain Red Bull’s fun image: “But we’re also combining everything we do with a bit of fun, entertainment, and music. We want to push the boundaries of Formula 1, and that’s what people will really remember.”
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