Visa chiefs react to F1 deal with Red Bull

Visa senior vice president Andrea Fairchild has sympathised with fan concerns about the new name of Formula 1's Faenza-based team, admitting 'it is a mouthful'.

AlphaTauri will from now on be known as the VisaCashApp RB team, after a lucrative deal was made between the brand and the wider Red Bull Racing group.

The team, who have also been known as Toro Rosso in the past, will race under completely different branding in 2024, with Daniel Ricciardo and Yuki Tsunoda taking them into the new era.

While Red Bull team principal Christian Horner had promised that their sister team will become more closely tied to the overall Red Bull brand, the new name has led to criticism about the selling away of the more orthodox team names.

It follows another team rename which was also criticised by F1 fans, when Alfa Romeo became Stake F1 earlier in this winter break.

Visa bosses will listen to fans

Now, Fairchild has defended the move, stating that she is looking forward to the future with Visa and Red Bull hand-in-hand.

“The best way to explain it is we had an opportunity, as we do with all of our global clients, specifically with Cash App in the United States, in teaming up with Red Bull,” she told The Associated Press.

“It is a mouthful but it was a way that we could showcase one of our key clients. There wasn’t a way to shorten it after bringing those two things together.

“The fans will certainly decide how they reference it,” she continued.

“It is our formal name that we’ve introduced to the marketplace. We certainly are capturing all the brands involved and this complex equation, but we’ll listen to the feedback and I’m certain we’ll pick up on some really interesting nuances and I think the fans will have some fun with it.”

“There’s no greater unifier than sports,” Catherine Ferdon, Head of Brand at Cash App said.

“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.”

READ MORE: Red Bull planning Super Bowl event for massive launch

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