Red Bull has made the choice to drop the AlphaTauri identity for their sister team and have it officially replaced with Visa Cash App RB.
According to Red Bull, the AlphaTauri Formula 1 team will now be known as Visa Cash App RB and a launch party that will unveil the brand new identity is set for February 8 in Las Vegas.
The parent company decided to rebrand their sister team in an attempt to give the squad a fresh start after Franz Tost’s retirement, which came after a string of underwhelming performances and the clothing line’s lack of success in the marketplace.
Before the news was officially announced, AlphaTauri’s Instagram account hinted at a name change to ‘visacashapprb’ last Thursday. However, the account was eventually deleted. It also appears that ‘RB’ does not stand for ‘Racing Bulls,’ despite what some have speculated on social media.
With this move, Visa will sponsor sports for the first time in fifteen years and additionally feature on the team’s F1 Academy entry name. Nonetheless, Visa is also the primary sponsor of the Red Bull squad, which is evident as their logo is featured on the RB20 for the upcoming season.
The team’s CEO Peter Bayer said: “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 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.”
Visa chief marketing officer Frank Cooper III said: “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.”
Meanwhile, the American corporation is sponsoring the team in conjuction with Cash App, a smartphone payment app accessible in the US and the UK. The company has been involved with Red Bull since 2021.
“We’re thrilled to embark on this journey with Visa and Red Bull. The Visa Cash App RB team and Cash App are dedicated to connecting people and communities, and there’s no greater unifier than sports,” Cash App’s head of brand Catherine Ferdon said.
“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.”
The new car will be launched on February 8 in Las Vegas with drivers Yuki Tsunoda and Daniel Ricciardo present to showcase the new team colors ahead of track debut in Bahrain pre-season tests on February 29.
