Last month, information surfaced that the AlphaTauri F1 team, based in Faenza, is planning a rebrand in the coming year. By selling their naming rights, the team hopes to achieve better financial stability.
This development comes following a shift in Red Bull’s management, spearheaded by Oliver Mintzlaff after the demise of the company’s co-founder, Dietrich Mateschitz. The new leadership chose not to completely sell off AlphaTauri.
Instead, they have decided to concentrate around their Bicester-based UK aerodynamics operation and strengthen their alignment with Red Bull to improve their standing in the constructors’ championship.
In a bid to address the team’s financial sustainability, the Red Bull management has resolved its concerns whether the team’s 2020 name change, from its initial Toro Rosso which debuted in 2006 F1, significantly increased AlphaTauri fashion label’s visibility to justify its economic viability.
Starting from 2024, the team aims to relinquish its current name and adopt a new, permanent team and car name linked to Red Bull. Team CEO Peter Bayer has made it clear that a revert to Toro Rosso is not in the cards.
According to F1 Flow.com’s Italian edition, Hugo Boss, the current Aston Martin partner and former McLaren sponsor, is now in discussions for a potential high-value title sponsorship agreement as it aims to amplify its F1 presence.
If the agreement is reached, AlphaTauri will probably be renamed ‘Boss’ – reminiscent of its Aston affiliation, which runs until 2025 – or ‘Boss Orange’ to acknowledge the specific clothing line.
Daniel Grieder, the CEO of Hugo Boss since 2021 and a former employee of Tommy Hilfiger, closely works with Lewis Hamilton and Mercedes.
While talking about the potential title sponsorship, AlphaTauri CEO Bayer told F1 Flow.com: “We are engaged in discussions with multiple organizations interested in future collaboration. However, no details can be disclosed at this moment.”
Franz Tost, the outgoing team principal, addressing the rumors about the title sponsorship last month, stated: “The title sponsor is indeed a lucrative one, and we will find out the results of the ongoing negotiations in the months to come. We are in discussions with various companies, and luckily, there is a great interest.”
The potential rebrand of AlphaTauri is part of a major reshuffle ahead of the 2024 season. This also includes infrastructure modifications, the hiring of Laurent Mekies, the outgoing Ferrari sporting director, as the team principal, and the appointment of former FIA secretary general Bayer as the CEO.
Current AlphaTauri sponsor Orlen, whose logos are prominently displayed on the AT04 vehicle’s rear wing, mirrors, and halo, is also considered for a potential naming takeover.
