Visa Cash App RB: The Evolution of a Formula 1 Team and the Power of Sponsorship

2024-02-25 16:40:00

As soon as the world of motorsport learned that the team that was born Minardi, then became Toro Rosso, then AlphaTauri, would henceforth be called Visa Cash App RB, it caused a whole storm of emotions, even complete rejection.

However, Peter Bayer, the executive director of the team from Faenza, is not ready to accept these reproaches and cited a number of arguments that forced him to make such a choice.

“We are actually quite satisfied,” he was quoted as saying by the Austrian publication Motorsport Magazin. – Visa and Red Bull wanted to support us and help the team reach the next level. When you see a car on the track, you see how it is designed, everything together creates a certain complex image. The reality is that we just need sponsors to make this whole project work really effectively.

Until now, we have only received money from shareholders and prize payments from Formula 1. But this is not enough to reach the budget limit determined by the regulations, which in turn determines the degree of our competitiveness. How to close the gap with the leaders? To do this we have to sell ourselves.

Perhaps we made a controversial decision, because being called Ferrari is, of course, easier than Visa Cash App RB. But we believe that in the medium term, with our new identity, we will be able to achieve quite noticeable progress.

The process of choosing a team name can be compared to choosing a child’s name. Some people can always say: “Oh heaven, how might such a thing come into your head?” And others will think: “What a wonderful name!” In general, we intend to add to the mood of the original spirit of Red Bull, and now there will be even more music!

Laurent Mekies, the new team manager, also gave his arguments in defense of this position: “Several years ago we might only dream of such sponsors in Formula 1. And now they not only chose us, but also want to be part of our identity. Having a problem of this kind is a luxury! But it also gives us a lot of responsibility, and the challenge is that now we have to put everything together.”

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