Not Hugo Boss, but Two Sponsors With $100,000,000 Cheque to AlphaTauri Will Enforce Change in Team Name

Red Bull’s sister team, AlphaTauri, is set for a major overhaul in 2024. The team will be renamed and will move its base to the UK. Along with the name change, the team is expected to have closer technical cooperation with Red Bull, to help better their results. However, Red Bull themselves are brushing these off as rumors, and are denying such claims.

AlphaTauri is too small a team to sustain without outside help. The team has been looking to increase its finances by getting title sponsors. As a result, two companies will pay $100,000,000 in total which will see the team name change of the team, according to Business F1.

It is rumored that the new title sponsor is a global financial services company which has not been named yet. This is also contrary to previous claims, which suggested that Hugo Boss would become the new title sponsor of Red Bull’s sister team- formerly known as Toro Rosso.

AlphaTauri to rebrand with new sponsorships

In addition to the change in leadership, the AlphaTauri team is undergoing a complete revamp. It includes a possible name change and a new sponsorship. Christian Horner, Red Bull’s team principal announced securing a sponsorship of major contracts worth approximately $100 million. These deals will play a key role in the rebranding of the team.

Rumors now suggest that a global financial services company will take over the title sponsorship of the AlphaTauri team, contrary to previous rumors that German fashion brand Hugo Boss would be the main sponsor. However, the exact name of the new title sponsor has not yet been revealed.

Not Hugo Boss, but someone else will replace AlphaTauri’s name

Source: Business F1 pic.twitter.com/lGcoM5whzG

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The appointments of Peter Bayer and Laurent Mekies as the new CEO and team principal, respectively, are seen as crucial to the team’s future. Bayer, known for his popularity and affability, will be responsible for the business side of the team, while Mekies will oversee the technical aspects.

Red Bull set to move their sister team to the UK

There have also been rumors that AlphaTauri’s headquarters will be shifted from Faenza, Italy to Milton Keynes, England, where Red Bull is based. This would bring the two teams closer together and make it easier for them to share resources.

Parts of AlphaTauri to move to UK – Marko https://t.co/g5SvnuzIA2 pic.twitter.com/ZkrFtgsr5F

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Furthermore, it has been reported that AlphaTauri will now be adopting the chassis designs of Red Bull, rather than designing their own. This is seen as a step down from the team’s previous approach, but it is likely to be necessary in order to save money.

Red Bull advisor Helmut Marko revealed that the team will base their car’s design more closely to theirs’ which they used for winning championships in the past. This move by Red Bull is a step down from their initial stance of selling the team. However, this plan appears to be on hold for a while.