Peter Bayer - The CEO of a team that was formerly known as AlphaTauri
, Visa Cash App RB, suggested he has a bold vision for the team after today's new name announcement.
It was clear for quite a while that AlphaTauri would undergo a major rebrand going into the season 2024, part of which would be a brand new team name.
However, the Italy-based team has kept their new name a secret until today. Just a few hours ago, it was announced the team will now be known as the "Visa Cash App RB F1 team.
Visa Cash App RB is the second team after Stake (formerly known as Alfa Romeo
) that is changing its identity going into 2024. As quoted by Sky Sports
. Peter Bayer said:
"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."
In the past, the Italy-based team used to focus on bringing up young, talented drivers. Now, the mission shifts more towards achieving better results in the Championship.
"Faenza [the team's factory] 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."
Visa Cash App was firstly exclusive partner of Red Bull Racing (since 2021). Now, the company will be an official partner of both Red Bull-owned teams. The CEO, Peter Bayer hinted he and the F1
team's new principal have some bold plans for the future of Visa Cash App RB.
"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."