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 operations.
Scuderia AlphaTauri will now be named Visa Cash App RB.
Visa’s first major global sports sponsorship in more than 15 years will see the agreement encompass 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 appearing 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 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 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 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.
“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.”