On January 24, 2024 Visa was announced as the official partner of both Red Bull teams, giving a new name to the AlphaTauri team, which will now be called Visa Cash App RB, and will unveilt their new challenger on 8 February 2024.
“This is a groundbreaking partnership and a great opportunity for the Visa brand to engage one of the fastest-growing sports communities on the planet. This alliance resonates strongly with Visa’s vision to inspire individuals to ‘make it,’ striving to take small steps for improvement each day, during every race or event.” said Frank Cooper III, Chief Marketing Officer of Visa.
Officer Oliver Hughes, Red Bull Technology Chief Marketing, added:
“The birth of Visa Cash App RB is a hugely significant moment. The new identity is not simply a name change, it’s the start of a thrilling new journey designed to take the team to new levels of competitiveness and that’s demonstrated in the presence of one of the world’s most iconic brands as the team’s title partner.”
“But, like the team, Visa is firmly focused on the future, expanding from its world-leading position in its core business to become a global pacesetter in the development of digital financial services for everyone, everywhere. Matching that commitment to future finance, Cash App joins the team as a key partner and as one of the most downloaded finance apps.”
“The team’s new identity as Visa Cash App RB leans into a future in which the team charges towards the front of the grid every weekend.”
The partership does not just stop at a new name for the Faenza-based team, but also extends into the F1 Academy.
Peter Bayer, Chief Executive Officer of Visa Cash App RB Team commented on his company’s official entrance in the top motorsport championship:
“It’s fantastic to reveal the new identity and to welcome new partners as we embark on the next phase of the team’s Formula 1 story.”
“Faenza is entering a new era of racing, staying true to our roots as a hothouse for talent but now with an even greater focus on competing for the biggest prizes in F1.”
“We have a bold vision for the team led 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.”
Catherine Ferdon, Cash App Head of Brand commented:
“We’re thrilled to embark on this journey with Visa and Red Bull,” said Cash App Head of Brand Catherine Ferdon. The Visa Cash App RB team and Cash App are dedicated to connecting people and communities, and there’s no greater unifier than sports.”
“With the continued growth of Formula 1 in the US, this sponsorship allows us to deepen our relationship with Formula 1 fans and furthers Cash App’s commitment to supporting and growing the culture of F1 fandom in the United States while offering more value to our customers. We have a history of elevating emerging talent and look forward to sponsoring a team known for developing incredible up-and-coming drivers.”
In preparation for the new season, the team scheduled three days of testing for its drivers, Yuki Tsunoda and Daniel Ricciardo, which began on 23 January, at the Imola Circuit, with the AT03-Honda. Visa Cash App RB has become the first team to take advantage of the opportunity to run a test with cars belonging to the current generation of power units.
Tsunoda was able to take to the track on wet and slick tyres, picking up the pace for a calendar which is expected to be extensive.
