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 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 will appear 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.”
