Red Bull officially confirm new F1 team name

Red Bull's sister Formula 1 team will race under the name of Visa CashApp RB for the upcoming 2024 season, abandoning its Scuderia AlphaTauri identity.

Formerly known as Toro Rosso, the team teased the rebranding on its Instagram account, 'visacashapprb', which has now been confirmed by Red Bull.

Contrary to social media speculation, 'RB' apparently doesn't stand for 'Racing Bulls'. The Visa logo will feature prominently on both the sister team and Red Bull Racing cars.

Drivers Daniel Ricciardo and Yuki Tsunoda will unveil a new car livery at a special event in Las Vegas on February 8.

Bayer: We have a bold vision

“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 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.”

Frank Cooper III, chief marketing officer of Visa, added: “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.

“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.”

READ MORE: 'Worst team name ever' - Twitter reacts to BOLD AlphaTauri rebrand

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