Scuderia AlphaTauri have confirmed their new name for the Formula 1 World Championship.
They will now be called “Visa Cash App RB” [short of Red Bull], and will run the new name from now on.
The change of name is Visa’s first major sport sponsorship in over 15 years.
“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,” said Frank Cooper II, Visa’s Chief Marketing Officer.
“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.”
The team’s CEO, Peter Bayer, said that “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.”
The team will launch its new identity and livery on February 8.
“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,” said Red Bull Technology CMO Oliver Hughes.
“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.”