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Visa, Red Bull Formula One Teams Announce Global Partnership

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.”
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 lead 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.
“As long-time partners of both Visa and Red Bull, we’re thrilled to embark
on this journey,” 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.”

Published on www.brandfit.com.ng

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