Equipped creature has haste. (It can attack and {T} no matter when it came under your control.)
At the beginning of your upkeep, put a +1/+1 counter on equipped creature if it's red.
Equip {1} ({1}: Attach to target creature you control. Equip only as a sorcery.)
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![Ring of Valkas - [Foil] Commander Legends (CMR)](http://cdn.shopify.com/s/files/1/0147/6729/2516/products/cb3c0bc4-6f89-48e2-b525-5efcb091bc5e_2514c155-0144-4dae-a976-db5479bacfc4_530x@2x.jpg?v=1641371802)