Megadeal in F1: Visa new partner of both Red Bull teams

Visa is making a grand entrance into Formula 1 in one fell swoop. This is because the US company has immediately partnered with both F1 teams from the Red Bull family: Red Bull Racing and, of course, Visa Cash App RB.

This is Visa's first new major global sports sponsorship in over 15 years. The partnership also applies to Visa Cash App RB and Red Bull Racing's F1 Academy team. The Visa logo will appear on both the Oracle Red Bull Racing and Visa Cash App RB cars and on the F1 Academy participants of these teams.

Visa proud of its partnership with Red Bull

"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," said Frank Cooper III, Chief Marketing Officer of Visa. "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.”

Cash App, the second-name sponsor of Red Bull Racing's sister team, is also very pleased with the new partnership. "We’re thrilled to embark on this journey with Visa and Red Bull," said Catherine Ferdon, Head of Brand at Cash App. "The Visa Cash App RB team and Cash App are dedicated to connecting people and communities, and there’s no greater unifier than sports."

"With the continued growth of Formula One in the US, 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."