- The partnership unveils a new team name and identity: Visa
Cash App RB Formula One Team
- Visa to become Red Bull F1 Teams first global partner with
the Visa logo appearing on both cars
- Visa and Cash App champion an F1 Academy team supporting
equality in sport
The Formula One grid is charging into the 2024 season with a new
look and new support. Today, Red Bull F1 Teams and Visa (NYSE: V)
announced an unprecedented multi-year agreement where Visa will
become the first global partner of both Red Bull F1 teams, bringing
a new look team to the F1 grid in the form of Visa Cash App RB,
formerly Scuderia AlphaTauri.
Visa’s first new major global sports sponsorship in more than 15
years, the agreement encompasses the Visa Cash App RB team,
corresponding title partnership on the F1 Academy team entry and
the Oracle Red Bull Racing team. The Visa logo appearing on both
the Oracle Red Bull Racing and Visa Cash App RB cars as well as the
F1 Academy entries from the respective teams.
“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 III, Chief
Marketing Officer, Visa. “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.”
Visa Cash App RB Races into the Future
Visa Cash App RB Drivers Yuki Tsunoda of Japan and Daniel
Ricciardo of Australia will sport a newly designed Visa and Cash
App inspired car livery and driver’s kit when the F1 2024 racing
series kicks off in Bahrain on February 29. The full livery unveil
will take place during a special Las Vegas event on February 8.
Beyond the high impact branding opportunities with Visa Cash App
RB, the two companies are committed to both propelling the team to
excellence on the grid and providing cardholders opportunities to
get closer to the action through team activities including behind
the scenes access, driver meet and greets, merchandise and elevated
hospitality at races.
“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,” said Peter Bayer, Chief Executive Officer of the
newly named 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.”
Championing Equality in Motor Sports
Visa has long been committed to women’s empowerment and economic
advancement through sponsorship platforms. Furthering that
commitment, Visa and Cash App will join Red Bull to champion Visa
Cash App RB in the F1 Academy series. The all female driving series
takes place at seven select F1 tracks over the same weekend as the
F1 races. This livery will also be unveiled during February’s
special event.
“We’re thrilled to embark on this journey with Visa and Red
Bull,” said Catherine Ferdon, Head of Brand, Cash App. “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.”
“The birth of Visa Cash App RB is a hugely significant moment,”
said Oliver Hughes, Chief Marketing Officer at Red Bull
Technology. “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.”
Note to Editors – About:
Visa Cash App RB: With more than 350 race starts and
counting, Red Bull’s Italian Formula 1 team has been one of the
sport’s most consistent and important competitors since 2006.
Launched as Scuderia Toro Rosso and charged with bringing future
champions to the grid, the team was successful in launching the top
level careers of a generation of drivers who have gone on to win
races and world championships in Formula 1 and beyond. The success
continued following the teams’ 2020 rebrand as Scuderia AlphaTauri,
with victory at the Italian Grand Prix in its first season. Now
reborn with an expanded mission to battle for the sport’s biggest
prizes, Visa Cash App RB team is powering into a new era of
competition at the pinnacle of motor sport.
Visa: Visa (NYSE: V) is a world leader in digital
payments, facilitating transactions between consumers, merchants,
financial institutions and government entities across more than 200
countries and territories. Our mission is to connect the world
through the most innovative, convenient, reliable and secure
payments network, enabling individuals, businesses and economies to
thrive. We believe that economies that include everyone everywhere,
uplift everyone everywhere and see access as foundational to the
future of money movement. Learn more at Visa.com.
Cash App: Cash App is the money app. It’s the easy way to
spend, send, and store money. Sending and receiving money is free
and fast, and most payments can be deposited directly to an
external bank account in just a few seconds. With Cash App,
customers can also buy and sell Bitcoin instantly, get a paycheck
deposited right to the app, create a unique $cashtag to share with
anyone to get paid fast, and use the Cash App Visa prepaid debit
Card to spend the money everywhere Visa Debit is accepted. Debit
cards issued by Sutton Bank pursuant to a licence from Visa U.S.A.
Inc. Visa is a registered trademark of Visa International Service
Association. All other trademarks and service marks belong to their
respective owners. Download Cash App for free at
cash.app/download.
Oracle Red Bull Racing: Since its inception, Oracle Red
Bull Racing has been a major force in the FIA Formula One World
Championship, the globe's premier motorsport category. Founded in
2005 to expand parent company Red Bull's presence in F1 and to
disrupt the status quo within the sport through a bold mix of
passion, playfulness, ambition and achievement, Oracle Red Bull
Racing has grown to become one of F1's most successful teams. With
multiple Constructors' and Drivers' world titles and more than 100
race wins to its credit, Oracle Red Bull Racing continues its
pursuit of ultimate performance – as a race Team, as a home of
champions and as an innovator operating at the cutting edge of
technology.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240124556126/en/
Fabiana Valenti, Visa Cash App RB: +39 335 7113694
Paul Smith, Red Bull Technology: +44 7873 700268 Chris
Morse, Visa: +1 914 413 3045 Flora Theden, Cash App: +1
404 290 6784
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