StaffRed Bull has signed a multi-year agreement with Visa, resulting in Red Bull Racing’s sister team AlphaTauri getting rebranded as “Visa Cash App RB Formula One Team” or “VCARB”.
Visa is also set to serve as a global partner to both the Red Bull teams, gaining branding visibility on their F1 cars as well as their F1 Academy challengers.
The upcoming 2024 Formula One season will see Daniel Ricciardo and Yuki Tsunoda race for the Faenza-based team, with Laurent Mekies in his first season as the full-time Team Principal of the Visa Cash App RB F1 Team.
Frank Cooper III, Chief Marketing Officer, Visa, commented:
“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.“
Peter Bayer, Chief Executive Officer, Visa Cash App RB F1 Team, 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 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, Head of Brand, Cash App, added:
“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. With the continued growth of Formula One in the US, this sponsorship allows us to deepen our relationship with Formula One 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.“
Oliver Hughes, Chief Marketing Officer, Red Bull Technology, said:
“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.“
