AlphaTauri rebrands as Visa Cash App RB F1 team in new title sponsorship deal

Multi-year agreement covers main Red Bull team, as well as company's secondary F1 and F1 Academy entries.
Visa CashApp RB Formula One team
  • Visa’s first major sports sponsorship in 15 years
  • Rumoured ‘Racing Bulls’ team name not used
  • Team may also use VCARB acronym this season

Red Bull and Visa have signed a global partnership which sees AlphaTauri become the Visa Cash App RB Formula One team.

The deal, which is Visa’s first new global sports partnership in over 15 years, includes the title sponsorship of the secondary Red Bull team and its F1 Academy entry, while its logo will also feature on the car of the main Red Bull team.

Rumours that the rebrand would include the ‘Racing Bulls’ name have not come to fruition, while Autosport reports that the team is considering the use of ‘VCARB’ as an acronym this season.

The value of the deal has not been revealed, but AlphaTauri reportedly paid US$15 million per year as title sponsor of the team. Visa’s deal is likely to be considerably higher as it becomes a global sponsor of both Red Bull’s main and secondary outfits.

“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,” said Peter Bayer, chief executive of the Visa Cash App RB team.

“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.”

The full extent of the new branding will be revealed at the team’s 2024 season launch in Las Vegas on 8th February.

BlackBook says…

With Sauber selling its naming rights to online casino Stake for the next two seasons, there appears to be a new sponsorship trend developing in Formula One.

Establishing a strong brand presence seems to have lost some importance in the series as teams chase every last dollar of revenue, which is especially important in the budget cap era.

Beyond the obvious monetary benefits, this move makes a lot of sense. This will be the Red Bull secondary team’s third name, so it is yet to build a strong brand recognition anyway, while Sauber is capitalising on its two-year wait for Audi’s full takeover of the team.

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