It’s been reported by RacingNews365.com that AlphaTauri are set to be rebranded in 2024, with Red Bull reportedly ‘in talks’ with global fashion retailer Hugo Boss.
Red Bull are believed to be keen to find a new main sponsor for the Faenza-based team, after reportedly rejecting an offer worth $1 billion to purchase the team.
Hugo Boss are supposedly leading the race to become the team’s new title sponsor, which could see the team rebranded in 2024 as ‘Hugo Boss Bulls Racing’.
Oil company Orlen are another company reportedly in the race to become the team’s new title sponsor but are believed to be behind Hugo Boss.
Want to work in Formula 1? Browse the latest F1 job vacancies
Red Bull advisor Dr. Helmut Marko did admit earlier in the year that the Austrians were “reconsidering” their options with AlphaTauri, with a rebranding being viewed as “logical”.
“It is something we are reconsidering,” Marko told RacingNews365.com in March.
“It is logical too. The branding of AlphaTauri has been scaled back somewhat, because only in a few countries where we race, AlphaTauri is actually sold. It is about three to four countries only.
“The task is simple. More money must be brought in and results improved.”
Whilst Red Bull are open to AlphaTauri being rebranded, Marko stressed that the sister team aren’t for sale.
“No, AlphaTauri is not for sale,” Marko insisted. “Internally, there were several considerations, though.
“What is not satisfactory is that AlphaTauri costs more than Red Bull, so what do we do? Do we restructure, do you stay in Italy? Do you move the team partially to England or maybe even completely?
READ: George Russell blasts Formula 3
“Do you sell the whole thing? These were the considerations, when a new management comes in, you go through every possibility. These were the considerations, when a new management comes in, you go through every possibility.
“We need a second team, simple as that. Especially also for the [Red Bull Powertrains] engines, it has to work. We have very good people here, the best. But we also have to prove in practice that things are under control.”
AlphaTauri are currently last in the Constructors’ Championship, with the side having scored just three points across the opening 12 races.