P1racenews AI automatic summary:
RB CEO Peter Bayer revealed to Motorsport Week that parent company Red Bull considered downsizing to one Formula 1 outfit prior to the 2024 campaign.
The Faenza-operated RB team, officially named Visa Cash App RB, is a result of a recent rebranding carried out during the offseason for the Red Bull ‘sister’ outfit. This team follows two previous versions of the Red Bull-owned Faenza squad, previously known as Toro Rosso from 2006 to 2019, and Alpha Tauri from 2020 to 2023. Red Bull decided to keep both teams after initially considering the possibility of focusing solely on one team for its F1 operations. RB Team Principal Laurent Mekies stated that Red Bull sought to position the second team differently, both in terms of identity and competitiveness, aiming for a higher standing than simply finishing at the back of the grid. The multiple ownership of F1 teams by Red Bull has raised concerns among competitors like McLaren, who have voiced objections to what they perceive as a conflict of interest affecting the fairness and competitiveness of the sport.
