The process surrounding a new identity - it had been known for some time that the AlphaTauri name would disappear - actually began during the Saudi Arabia Grand Prix last season. There, then AlphaTauri team boss Franz Tost lashed out at his team.
"The engineers tell me they have made progress, but I don't trust them anymore," he said.
"I want to see better lap times, that's all that matters. They have told me that the car is fantastic and that we are making a lot of progress, but then we come to Bahrain and we are nowhere... What should I say then?"
At that point, the ball started rolling fairly quickly. Oliver Mintzlaff, one of the most important leaders within Red Bull and responsible for sponsorship among other things, knew that something had to happen at the sister team. Peter Bayer was appointed as the new CEO and Laurent Mekies would become the new Team Principal from 2024, with Tost retiring at the end of the season. What was also part of all the changes? A new identity.
Polish company ORLEN had already been added to the list of sponsors at AlphaTauri for last season and the initial plan was for it to become the title sponsor. But this eventually fell through because Hugo Boss emerged in pole position to take over the team's name.
RacingNews365 reported that last summer and understands the deal was to be worth around €30 million, with the plan to create closer ties with Red Bull.
That deal was surpassed by Visa and Cash App, however...
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Visa and Cash App partnership
Cash App, an app where you can easily transfer money, already sponsors Red Bull and works closely with Visa, the brand known for its credit cards. Both brands saw merit in a main sponsorship and thus became AlphaTauri's new moniker.
Hugo Boss does not seem to be completely out of the picture: The clothing brand could very well be on the Visa Cash App RB car in red letters and could become the clothing sponsor. ORLEN will also remain a sponsor.
Whilst Visa and Cash App are teaming up on the sister team, the former will become a sponsor for Red Bull and the latter will remain on the car. This will create more exposure but have added to what has been a very complicated deal.
The deal shows how close the cooperation between the two teams is growing given the desires of the new management in Bayer and Mekies. The sister team buys as many parts as permissible under the current regulations.
For Visa, it is a chance to gain exposure as a sponsor of a sports brand for the first time in over 15 years. The brand was hoping to become a sponsor of F1 as a whole, only to be beaten out by American Express.
It took a whole because of all the plot twists, but now the new name has been confirmed. Just have to get used to it now...