After the transition from Toro Rosso to AlphaTauri in 2020, Red Bull have moved their sister team's title sponsor on to Visa CashApp from 2024 onwards, and a rebrand to Racing Bulls for the team.
In an attempt to promote their own clothing brand, Red Bull owned AlphaTauri was the title sponsor for the racing team for 4 years from 2020 until the end of 2023. However, it seems the outcome they were looking for has been met, and with continued rising costs to run a Formula 1 team, they have looked elsewhere for new funding and a new title sponsor.
After months of speculation, rumors and leaks, it has finally been confirmed that the team will have the title sponsor Visa CashApp take over, with their team name becoming Racing Bulls.
They are the second team to change their name over the winter break, after Alfa Romeo took on funding from Stake & Kick to form the 'Stake F1 Team Kick Sauber' - or Stake F1 Team for short.