Last month, it was revealed that the Faenza team will undergo a rebranding in the upcoming year. By selling the naming rights, the team will be able to enhance its financial stability.
After the passing of company co-founder Dietrich Mateschitz, the new Red Bull management, headed by Oliver Mintzlaff, decided not to proceed with a complete sale of AlphaTauri.
Instead, the team will centralize its UK aerodynamics operation in Bicester and will form a strong partnership with Red Bull to improve its position in the constructors’ championship.
Red Bull leadership has decided to take action on their concerns regarding the economic viability of the AlphaTauri fashion label. This comes after a name change in 2020, as the team had been known as Toro Rosso since their debut in F1 in 2006.
The team intends to change its current name starting in 2024 and adopt a new team and car name that has ties to Red Bull. However, team CEO Peter Bayer has confirmed that they will not revert back to being called Toro Rosso.
Hugo Boss is currently in talks for a potentially profitable title sponsorship agreement, according to Motorsport.com’s Italian edition.
The present partner of Aston Martin, who was previously a sponsor for McLaren, is looking to increase their visibility in Formula 1.
If the agreement is finalized, it is probable that AlphaTauri will undergo a rebranding and adopt the name ‘Boss’ or ‘Boss Orange’ to reflect its association with Aston, which has a contract in place until 2025.
Daniel Ricciardo, AlphaTauri AT04
Photo by: Erik Junius
Hugo Boss CEO Daniel Grieder, who assumed leadership of the company in 2021, had previously been associated with Tommy Hilfiger, a brand closely affiliated with Lewis Hamilton and Mercedes.
“I am currently in talks with multiple companies that have expressed strong interest in collaborating with us in the future. However, we do not have any details to share at this moment.”
Last month, Franz Tost, the departing team principal, commented on the speculation surrounding the title sponsorship, stating that the potential sponsor is highly appealing. He mentioned that the outcome of the negotiations in the upcoming months remains to be seen.
“We are engaging in discussions with various companies. Thankfully, there is a significant level of interest.”
A rebranding of AlphaTauri is planned as part of the significant team restructuring scheduled for 2024.
Alongside the infrastructure changes, outgoing Ferrari sporting director Laurent Mekies has been hired as team principal and former FIA secretary general Bayer has taken up the role of CEO.
Current AlphaTauri sponsor Orlen, whose logos feature prominently on the rear wing, mirrors and halo of the AT04 machine, has also been linked with a naming takeover.
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