The name of AlphaTauri’s new sponsor is finally revealed after weeks of speculation. Red Bull team principal Christian Horner recently revealed that the Italian outfit signed a whopping $100,000,000 deal with a global brand but did not give the name. Now blick.ch has recently put out a report per which the Faenza-based outfit’s new sponsor turns out to be Red Bull’s ex-sponsor’s rival. Adidas, who are the rivals of Red Bull’s ex-sponsor Puma, are now reportedly all set to be the new title sponsor of AlphaTauri.
This news comes after reports previously emerged that Hugo Boss could sponsor AlphaTauri. Even though Red Bull has denied all reports about who will sponsor their sister team, the links with Adidas have gained steam recently.
Adidas will most likely sponsor AlphaTauri
Amid rumors that Hugo Boss may sponsor AlphaTauri in the future, team CEO Peter Bayer has broken his silence on the same. Bayer told blick.ch, “They are also involved in the new project. But the new name is much bigger!”
The report states that the new name that will sponsor the Faenza-based outfit is most likely the German athletic apparel brand Adidas. Since the fashion brand will be the new title sponsor of AlphaTauri, the new team’s name will also include Adidas.
Red Bull will once again change the name of their sister company after the AlphaTauri branding didn’t work for them. The Italian outfit had changed their name back in 2020 from Toro Rosso, with the hope that this rebranding would help them generate more revenue.
Why are Red Bull changing the name of their sister team again?
Even though a global brand such as Red Bull own AlphaTauri, the Italian outfit is yet too small to sustain by themselves. Consequently, they require a new sponsor to provide them the financial backing they require to sustain in the sport.
With revenues of over $35.48 billion as per macrotrends.net, Adidas could help provide the finances AlphaTauri needs to sustain in the sport. This is not the only major change that AlphaTauri will undergo before the next season.
Parts of AlphaTauri to move to UK – Marko https://t.co/g5SvnuzIA2 pic.twitter.com/ZkrFtgsr5F
— Nextgen-Auto.com (@NextgenAuto) June 26, 2023
There are also rumors that AlphaTauri may move their headquarters from Faenza to Milton Keynes, the location where Red Bull is based. This move will make it easier for Red Bull and their sister team to share resources. These changes are likely to help AlphaTauri become competitive again and not be in the sport just to fill the numbers.
