AlphaTauri, the sister team of Red Bull Racing, is reportedly on the cusp of sealing a monumental title sponsorship deal with global fashion giant Hugo Boss.
This deal, set to come into effect from the upcoming season, marks a significant step in the team’s quest for financial stability and success on the track.
According to a report by German publication F1-Insider, the long-anticipated partnership between AlphaTauri and Hugo Boss is now nearing its finalisation, with crucial discussions between executives from Red Bull and Hugo Boss taking place at the iconic Monza circuit.
Red Bull Motorsport advisor Helmut Marko had previously hinted at AlphaTauri’s impending rebranding and a closer alignment with Red Bull from an engineering standpoint starting next season.
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F1-Insider’s report indicates that the team’s future identity will amalgamate both Hugo Boss and Red Bull, a strategic move aimed at infusing additional financial resources into the Faenza-based outfit with the aspiration of improving its performance in Formula 1.
Helmut Marko reiterated the team’s commitment to achieving greater success.
“We are excited about the potential of this partnership with Hugo Boss. Our goal is to strengthen AlphaTauri’s position in the championship, and this collaboration will play a pivotal role in realising that ambition,” said Marko.
Hugo Boss, known for its involvement in motorsport sponsorship, is realigning its sporting commitments, as stated by CEO Daniel Grieder.
Having previously sponsored Aston Martin as their official fashion partner, the fashion conglomerate is now focusing its sporting endeavours exclusively on Formula 1, underlining the sport’s global appeal.
“Hugo Boss is realigning its existing commitments in sport, and we will focus only on Formula 1 in the future,” affirmed Grieder.
He further expressed enthusiasm for the sport’s recent developments, citing Formula 1’s commitment to sustainability and global relevance.
“Formula 1 is back, and it’s better than ever.
“They have also committed to a more sustainable world and races.
“The sport is even more relevant than ever, and the whole world is watching,” Grieder remarked.
As AlphaTauri grapples with a challenging season on the track, currently occupying the bottom of the Constructors’ Championship with just three points, this impending partnership with Hugo Boss offers a glimmer of hope for improved fortunes in the seasons ahead.
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Yuki Tsunoda’s recent setback at the Italian Grand Prix, where he failed to start due to an engine failure on the formation lap, highlights the team’s on-track struggles.
The off-track transformation is set to be equally significant, with long-serving team principal Franz Tost announcing his retirement at the end of the season.
Tost will be succeeded by former Ferrari sporting director Laurent Mekies, and the team will welcome a new chief executive, former FIA secretary general Peter Bayer.