Sponsorships have grown so popular in sports because of their marketing benefits. We consumers unwittingly view thousands of advertisements every day, ranging from billboards to television to our phones. All of these advertisements have become a blur, and they are no longer as effective as they once were. However, linking their products to sports brand loyalty is a very powerful marketing strategy, and Formula One teams have no reason to refuse it—it's an expensive sport, and every penny counts to gain an edge over their competitors.
It's equally important to recognize the presence of obvious sponsorships in other sports. Even overseeing clear sponsorships such as Red Bull Bragantino- a top-tier Brazilian football club, other notable teams were also sponsored. Manchester United was originally known as Newton Heath LYR (Lancashire and Yorkshire Railway) Football Club. Even Bayern Munich and Arsenal originated with similar names.
The issue with the Visa Cash App Redbull is the loss of identity and brand that it causes. Under the shadow of the enigmatic team, Oracle Red Bull Racing, fans find it difficult to connect with the new name. The Mercedes-AMG PETRONAS F1 team is also well-known, but the name Mercedes is exclusive and identifiable. The new name for the Alpha Tauri raises the question of what fans, journalists, and commentators will refer to the team as. Visa? Cash App? Red Bull 2?
We can only wait and see what happens in the next weeks as we prepare for the 2024 season. Despite the controversial name, we can appreciate the new livery, which is reminiscent of the Toro Rosso. Hopefully, the sponsorship money will allow the young Yuki Tsunoda and fan favorite Daniel Ricciardo to become a more competitive duo. But most importantly, maybe someone can stop the Dutch anthem from being played at the end of every race.
