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AlphaTauri have been renamed the Visa CashApp RB team for the new Formula One season as part of a partnership between Visa and Red Bull.

Red Bull and Visa announced a new, multi-year global partnership on Wednesday afternoon which will see new livery appearing on the cars of reigning world champion Max Verstappen and team-mate Sergio Perez.

The agreement will also see Visa become the named sponsor of the rebranded AlphaTauri team, Red Bull's sister marque.

The Visa CashApp RB team will make their debut at the 2024 season opener in Bahrain in March, with Daniel Ricciardo and Yuki Tsunoda behind the wheel.

Previously known as Toro Rosso, AlphaTauri was introduced onto the F1 grid in 2020 in order for Red Bull to promote their fashion brand of the same name.

While known as AlphaTauri, the team managed one win in 83 race entries as Pierre Gasly took the chequered flag at the 2020 Italian Grand Prix at Monza.

Future Red Bull world champions Verstappen and Sebastian Vettel both raced under team's guise of Toro Rosso, with the latter taking the sole victory of the previous incarnation.