AlphaTauri are reportedly on the verge of finalising a huge title sponsorship deal with Hugo Boss, to take effect from next season.
A report from German publication F1-Insider claims the long-rumoured deal between Red Bull’s junior squad and the global fashion marque is close to completion, with further talks between Red Bull and Hugo Boss executives reportedly having taken place at Monza.
Red Bull motorsport advisor Helmut Marko confirmed earlier this year that AlphaTauri, who have been struggling in the Constructors’ Championship this season, would be undergoing a rebranding and would be brought into closer alignment with Red Bull from an engineering perspective from next season.
Hugo Boss title sponsorship deal with AlphaTauri reportedly close to completion
F1-Insider’s report claims the future name of the team would incorporate both Hugo Boss and Red Bull, with Marko having sought a deal to bring in more financing to the Faenza-based team in the hope of improving its results.
With Hugo Boss having left its sponsorship commitments in Formula E, the brand’s chief executive recently confirmed it will be putting its efforts solely into Formula 1 from a sporting point of view.
“Hugo Boss is realigning its existing commitments in sport and we will focus only on Formula 1 in the future,” CEO Daniel Grieder told Motorsport-Magazin in Germany.
Having joined up with Aston Martin previously, currently sponsoring the Silverstone-based team as their official fashion partner, Grieder said separately to Reuters: “Formula 1 is back, and it’s better than ever.
AlphaTauri have struggled overall on track so far this season, currently sitting bottom of the Constructors’ Championship on three points, with Yuki Tsunoda having failed to start the Italian Grand Prix following an engine failure on the formation lap.
They will be undergoing significant off-track changes at the end of the season too, with long-serving team principal Franz Tost set to retire, to be replaced by former Ferrari sporting director Laurent Mekies – and a new chief executive already in place in the form of former FIA secretary general Peter Bayer.