Red Bull’s sister outfit AlphaTauri has revealed it will emerge from the Formula 1 winter break as Visa Cash App RB.
The rebrand comes after news that payment giant Visa has signed a multi-year deal with Red Bull, which saw the firm become a global partner of both teams.
As part of the deal, the payment company has announced that its logos will be visible on both team’s cars. However, its name will only appear in the Italy-based team’s title.
The Red Bull-owned racing team has changed its name before, originally joining the grid in 2006 under the name Toro Rosso – meaning Red Bull in Italian. That was changed to AlphaTauri in 2020, to promote the company’s fashion brand.
Frank Cooper III, Chief Marketing Officer at Visa, stated: “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.”
Last year, F1 signed a deal with American Express to make AmEx the racing competition’s official payments partner in America, showing that the organisation has a long history of successful relationships within the payments industry.
Another driving force that incited this rebrand was a change of senior leadership, following the retirement of long-time team boss Franz Tost, who is being replaced by former Ferrari Deputy Team Principal and Racing Director Laurent Mekies.
Peter Bayer, Visa Cash App RB’s Chief Executive, commented: “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.”
In addition to the name change, the team has announced a brand new livery for 2024, which will be unveiled at an event in Las Vegas in February. An aspect that hasn’t been changed is the drivers, as Daniel Ricciardo and Yuki Tsunoda are set to drive again this year.
AlphaTauri, as the team was previously known, has gained a reputation of being a feeder team for its UK-based team. Over the years, the likes of four-time champion Sebastian Vettel, three-time champion Max Verstappen and multiple race winner Daniel Ricciardo built up valuable experience at the outfit before progressing to Red Bull.
Bayer and other senior leaders in the team hope that this rebranding will help kick-start its own individual success.
Bayer added: “Faenza (the team’s factory) 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.”
