Visa Joins Forces with Red Bull Racing in Exciting Global F1 Partnership

Jan.24 - Red Bull Racing Teams Unveil New Chapter with Visa: Introducing Visa Cash App RB Formula One Team

In a groundbreaking move, the F1 landscape is set to be redefined as Red Bull Formula One Teams and global financial services giant Visa (NYSE: V) unveil their landmark multi-year partnership. This collaboration marks Visa’s emergence as the premier global partner for both Red Bull F1 entities, revolutionising the team's identity with the newly christened Visa Cash App RB, evolving from the former Scuderia AlphaTauri.

This significant venture marks Visa's first major foray into global sports sponsorship in over a decade. The partnership spans across the newly named Visa Cash App RB team, the F1 Academy team sponsored by Visa, and the illustrious Oracle Red Bull Racing team. Fans will witness the iconic Visa logo adorning the cars of both Oracle Red Bull Racing and Visa Cash App RB, as well as their F1 Academy counterparts.

Frank Cooper III, Visa's Chief Marketing Officer, shares his enthusiasm, "This partnership represents a monumental stride for Visa, aligning us with one of the most dynamic and rapidly growing global sports communities. It’s a perfect match for our brand ethos, encouraging everyone to make small yet significant steps towards betterment, whether in daily life or on the racing track."

The Dawn of Visa Cash App RB

The team's drivers, Yuki Tsunoda and Daniel Ricciardo, will debut their new Visa and Cash App-inspired car liveries and driver kits at the commencement of the F1 2024 season in Bahrain on February 29. A special event in Las Vegas on February 8 will unveil the full livery design.

The collaboration extends beyond branding, focusing on driving excellence on the track and offering Visa cardholders exclusive experiences such as behind-the-scenes access, driver meet-ups, merchandise, and premium hospitality at races.

Peter Bayer, CEO of Visa Cash App RB, comments on the team's new era, "We're thrilled to present our new identity and welcome our new partners. With our renewed focus on top-tier competition in F1 and a bold vision led by myself and Team Principal Laurent Mekies, the support from forward-thinking partners like Visa and Cash App is invaluable."

Advancing Equality in Motor Sports

Visa's commitment to women's empowerment and economic advancement finds a new expression in this partnership. Together with Cash App, they will support the Visa Cash App RB team in the F1 Academy series, an all-female racing series hosted at selected F1 circuits. This initiative aligns with Visa's long-standing dedication to fostering equality in sport.

Catherine Ferdon, Head of Brand at Cash App, expresses excitement about the partnership, “Teaming up with Visa and Red Bull marks a significant step for us. This alliance not only connects us more deeply with the expanding Formula One fanbase in the U.S. but also echoes Cash App’s commitment to nurturing the F1 culture and providing more value to our customers.”

Oliver Hughes, Chief Marketing Officer at Red Bull Technology, remarks on this pivotal moment, “The creation of Visa Cash App RB isn’t just a rebranding; it's a leap into an exhilarating future. The team’s evolution, backed by the prestige of Visa and the innovation of Cash App, sets us on a path towards unprecedented competitiveness in F1.”

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