Visa Cash App RB: Red Bull-owned Scuderia AlphaTauri Rebrands for 2024 F1 Season, Unveils New Look and Global Partnership with Visa

Faenza, Italy – Red Bull-owned Scuderia AlphaTauri Formula One team has announced a rebranding for the 2024 season. The team will now be known as ‘Visa Cash App RB’ in a bid to improve its performance in the F1 grid this year. The move comes as part of a series of changes being made to the team after finishing eighth in the constructors’ standings last season. As part of a multi-year agreement, Visa will serve as a global partner for both the senior Red Bull Racing team and Visa Cash App RB.

Visa already has sponsorship deals in place with various international tournaments and federations, including FIFA, UEFA, and the IOC. The new name and partnership between Visa and Cash App RB will be unveiled on February 8 during a launch event in Las Vegas. The event will also showcase a newly designed car livery, inspired by Visa and Cash App.

Peter Bayer, the CEO of the team, expressed excitement about the new partnership and rebranding. He stated, “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 One 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.”

In addition to the rebranding, Visa and Cash App will support the Red Bull-linked entries for F1 Academy, an all-women’s racing championship that will feature at seven grands prix this year. The rebranding of the team is just the latest change for Red Bull’s sister F1 team based in Faenza, Italy, which has previously served as a junior squad to develop young drivers before promoting them to the senior Red Bull Racing team.

Despite a surprise victory at the 2020 Italian Grand Prix, the team has struggled to maintain success. Last season, it only managed to finish as high as seventh and secured 20 out of its 25 points in the last five races. Peter Bayer and Laurent Mekies will be working together under the new management structure for the 2024 season, with Mekies joining as team principal earlier this year.

The team plans to expand its base in Bicester, UK, to attract more British-based personnel and strengthen its technical ties to the senior Red Bull team. Moreover, the return of Daniel Ricciardo midway through last season marked a change in the team’s approach, relying on the experience of the eight-time Grand Prix winner instead of exclusively recruiting young drivers.

Visa Cash App RB is the team’s third name change in the past six seasons. It was first named Toro Rosso when Red Bull acquired the Minardi operation in 2006, then rebranded as AlphaTauri, Red Bull’s in-house fashion line, in 2020. A potential name change was teased by Red Bull motorsport advisor Helmut Marko last year, and the team’s recent change of Instagram handle hinted at the upcoming announcement.

The rebranding of Formula One teams for the 2024 season continues with Sauber also changing its name to ‘Stake F1 Team’ after its partnership with Alfa Romeo expired. Excitement is building as fans and competitors eagerly await the unveiling of the newly named teams and their refreshed identities.