Visa Announces Multi-Year Global Partnership with Red Bull Formula 1 Teams, AlphaTauri Rebranded as Visa Cash App RB
Visa Cash App RB (motorposrtweek.com)
Red Bull’s AlphaTauri Transforms Into Visa Cash App RB for the 2024 Formula 1 Season
In a significant development, Visa has secured a multi-year global partnership with both Red Bull Formula 1 teams, and as part of this collaboration, AlphaTauri will be rebranded as Visa Cash App RB starting from the 2024 season. The announcement marks Visa’s return to major sports sponsorship, representing its first such deal in 15 years. The Visa logo will be prominently featured on the Red Bull Racing cars, as well as the newly named Visa Cash App RB Formula 1 cars.
The rebranding of AlphaTauri to Visa Cash App RB is a strategic move that aligns with the team’s vision for the future of Formula 1. The new identity reflects a commitment to staying true to the team’s roots as a talent hothouse while enhancing its focus on competing for top honors in the sport. The unveiling of Visa Cash App RB’s full look, including the 2024 car livery, is scheduled for a special launch event in Las Vegas on February 8.
Peter Bayer, Chief Executive Officer of Visa Cash App RB team, expressed excitement about the partnership and the team’s new era, saying, “We have a bold vision for the team lead by myself and Team Principal, Laurent Mekies, and having future-focused partners such as Visa and Cash App alongside us on that journey is hugely exciting.”
Following the death of Red Bull co-founder Dietrich Mateschitz in 2022, the team underwent an extensive review, leading to new management’s decision to strengthen ties with Red Bull. The relocation of some UK-based facilities closer to Red Bull Racing in Milton Keynes is underway to fortify this connection. Laurent Mekies, who assumed the role of Team Principal in January, is part of the leadership steering the team into this new phase.
Visa Cash App RB, previously known as AlphaTauri, secured an eighth-place finish in the 2023 championship. The team’s driver lineup for the upcoming season will feature Daniel Ricciardo and Yuki Tsunoda. The collaboration with Visa signifies a strategic move for both parties, bringing together the dynamism of Formula 1 and the global reach of one of the world’s leading payment technology companies.
