Visa & Red Bull Form Extensive F-1 Partnership

Visa has partnered with both of Red Bull's Formula One racing operations. (Clive Rose/Getty Images for Red Bull Racing photo)

SAN FRANCISCO – Red Bull Formula 1 teams and Visa have announced a multi-year agreement in which Visa will become the first global partner of both Red Bull F-1 operations.

As part of the deal, the Scuderia AlphaTauri team will be rebranded as Visa Cash App RB.

Visa's first major global sports sponsorship in more than 15 years encompasses the Visa Cash App RB team, corresponding title partnership on the F-1 Academy team entry, and the Oracle Red Bull Racing team.

The Visa logo will appear on both the Oracle Red Bull Racing and Visa Cash App RB cars, as well as the F-1 Academy entries from the respective teams.

“This is a groundbreaking partnership, and a great opportunity for the Visa brand to engage in one of the fastest-growing sports communities on the planet,” said Frank Cooper III, Chief Marketing Officer for 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 Drivers Yuki Tsunoda and Daniel Ricciardo will sport a newly designed Visa and Cash App-inspired livery and driver’s kit when the F-1 season kicks off in Bahrain on Feb. 29.

The full livery unveiling will take place during a special Las Vegas event on Feb. 8.

“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 hotbed for talent, but now with an even greater focus on competing for the biggest prizes in F-1.

“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."

In addition, Visa will continue its commitment to women’s empowerment and economic advancement through its sponsorship platforms. Furthering that mission, Visa and Cash App will join Red Bull to champion Visa Cash App RB in the F-1 Academy series.

The all-female driving series takes place at seven select F-1 tracks over the same weekend as the F-1 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 United States, 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 F-1 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.”