JUST IN: AlphaTauri undergoes a significant transformation ahead of the 2024 season, rebranding itself as Visa Cash App RB in a major change for the Formula 1 team.

The team that was once Toro Rosso, then transformed into AlphaTauri, has now revealed its latest identity as Visa Cash App RB, marking a significant rebranding for Red Bull’s Italian-based Formula 1 outfit in preparation for the 2024 season. This announcement follows a multi-year partnership agreement with payment giant Visa, making it a global partner for both Red Bull-owned teams, with logos prominently featured on both cars. The unveiling of Visa Cash App RB’s new livery is scheduled for a launch event in Las Vegas on February 8.

Visa’s involvement extends beyond Formula 1, as the brand will also be associated with Red Bull’s entry in the F1 Academy, supporting the all-female series that joins F1 race weekends at seven venues in the upcoming season. The team’s chief executive, Peter Bayer, expressed excitement about the new era, emphasizing a renewed focus on competing for top honors in F1 while maintaining the team’s tradition as a talent development hub.

The Faenza-based team, historically a feeder team for Red Bull, has undergone a transformation in recent years, evolving from a strictly junior role to a more sibling-like relationship with the parent team. Facing disappointing performances in the past two seasons, the team aims to enhance its competitiveness in 2024. The transfer of components from the senior Red Bull team, increased presence in the UK, and a new leadership structure with Laurent Mekies as team principal and Peter Bayer as CEO signal a new chapter for the team.

As the 2024 season approaches, the rebranded Visa Cash App RB will be under the guidance of a more experienced driver lineup, featuring eight-time race winner Daniel Ricciardo and 23-year-old Japanese driver Yuki Tsunoda, who is entering his fourth season with the team. Despite recent criticisms from McLaren’s Zak Brown regarding the relationship between Red Bull-owned teams, the teams maintain their autonomy and reject concerns about gaining unfair advantages in the cost-cap era. The 2024 season begins with three days of pre-season testing in Bahrain starting on February 21, followed by the opening grand prix at the same venue from February 29 to March 2.