Visa Cash App RB Replaces AlphaTauri F1 Team Name For 2024

There are two new team names in the Formula 1 paddock this season, with the second and final name revealed earlier this week as Visa Cash App RB formerly known as AlphaTauri. In early January 2024, Alfa Romeo changed their name to the Stake F1 Team.

Red Bull’s second team announced its new name and sponsorship deal with Visa at a press conference on Wednesday, 24 January, and will show off its new car and team overalls worn by drivers Daniel Ricciardo and Yuki Tsunoda in Las Vegas on February 8.

AlphaTauri, the clothing company, had been in partnership with the Red Bull team for four years. It was previously called Scuderia Toro Rosso.

However, Visa’s involvement with Red Bull kicks off the San Francisco-based company’s first new global sports sponsorship in over 15 years. As part of the deal, the Visa logo will also feature on the RB20 cars driven by four-time world champion Max Verstappen and teammate Sergio Perez.

Red Bull’s F1 Academy teams will also sport the Visa logo from 2024.

Visa Cash App RB CEO Peter Bayer, said: “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.”

Red Bull Technology’s chief marketing officer Oliver Hughes said: “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.”

When did the talks begin?

According to Motorsport.com Visa and Cash App were introduced to one another at the Las Vegas Grand Prix by AlphaTauri.

Both US companies are keen to ride the growing wave of support Formula 1 has garnered in the country. Last season saw three Grand Prix held in North America: the Miami GP, the United States GP, and the Las Vegas GP.

The Grand Prix in Sin City saw over 315,000 people attend the event over four nights, and the promoter, LVGP, said the economic impact to the area was $1.2 billion.

Visa Cash App RB looking to better its 2023 result.

Japanese driver Yuki Tsunoda was in the Honda-powered 2022 car bearing the team’s old livery earlier this week conducting private testing at Imola.

The Italian-based team whose factory is in Faenza finished a disappointing eighth place in the constructors’ championship last season.

They fired ex-Formula E champion Nyck De Vries before the midway point of the season and replaced him with former McLaren and Red Bull driver Daniel Ricciardo. The Australian suffered a setback when he broke his hand in the Netherlands and was replaced by New Zealander Liam Lawson.

The Formula 1 season kicks off in Bahrain on February 29 and ends in Abu Dhabi, United Arab Emirates in early December.