When Red Bull purchased Minardi in 2006, the team was rebranded as Scuderia Toro Rosso and established as the junior outfit to Red Bull Racing. Over the following years Toro Rosso became known as a launch pad for future Red Bull talent: Sebastian Vettel, Carlos Sainz Jr., Max Verstappen, and Daniel Ricciardo all passed through the team. For the 2020 season the team was rebranded Scuderia AlphaTauri to promote Red Bull's fashion label. According to team principal Franz Tost and Helmut Marko, the change also reflected the team's evolution from a junior programme into a genuine sister operation. For 2024 the team was renamed Visa Cash App RB F1 Team — a branding widely criticised in the media, with one prominent observer calling it "the worst team name in Formula 1 history". The shorter name Racing Bulls was adopted for 2025.
The team entered 2024 with Daniel Ricciardo and Yuki Tsunoda, continuing with Honda RBPT power units the team had used since 2018. Tsunoda scored the team's first points at the Australian Grand Prix with seventh place. Ricciardo's best result was a fourth-place sprint finish in Miami. Ahead of the United States Grand Prix, Ricciardo was dropped and replaced by reserve driver Liam Lawson, who scored points immediately with a ninth-place finish. The team finished eighth in the Constructors' Championship with 46 points.
Racing Bulls retained Tsunoda for 2025, with Lawson promoted to Oracle Red Bull Racing in place of the outgoing Sergio Pérez and Formula 2 graduate Isack Hadjar joining as his replacement. After two disappointing races, Lawson was demoted back to Racing Bulls and Tsunoda was promoted to the main Red Bull team. Hadjar delivered a consistent points-scoring campaign, peaking with sixth in Monaco where Lawson added eighth for the team's first double-points finish. At the Dutch Grand Prix Hadjar finished third, Racing Bulls' first podium under the Racing Bulls name and their sixth podium overall. Lawson also posted a career-best qualifying effort of third at Azerbaijan and converted it to fifth. The team ended the season sixth in the Constructors' Championship with 92 points, their strongest result to date.
For 2026, Racing Bulls and Red Bull Racing switched from Honda RBPT to Red Bull Ford Powertrains units, marking Ford's return to Formula One for the first time since 2004. Hadjar was promoted to Oracle Red Bull Racing, with Formula 2 standout Arvid Lindblad joining Lawson. Lindblad scored on debut in Australia with eighth place, and Lawson added further points in China and Japan. The CEO of the team is Peter Bayer, with Alan Permane serving as team principal.