A source has told PlanetF1.com that reports Hugo Boss is close to a title sponsor deal with AlphaTauri are “so far from true.”
Helmut Marko revealed earlier this year that AlphaTauri is set for a name change as the operation moves closer to Red Bull’s but as to what the team will be called remains a secret.
Reports about a Hugo Boss involvement first emerged in early August but the German fashion company has yet to comment on any such deal.
Hugo Boss-AlphaTauri deal far from completion
On Tuesday, a report was made suggesting a deal was “nearing completion” but PlanetF1.com has since discovered that is wide of the mark.
A source said the report was “so far from true” with no acknowledgement on whether negotiations were even taking place.
When asked by PlanetF1.com on the report, Hugo Boss said: “Our brand BOSS is and will continue to be the official fashion partner of the Aston Martin Aramco Cognizant Formula One Team. Besides that, we cannot comment further.”
Should an outside company wish to become the title sponsor of AlphaTauri then it would no doubt come with a hefty price tag. Oracle’s sponsorship of the Red Bull team is valued at around $500 million while Mercedes’ deal with Malaysian energy group Petronas nets the Brackley unit $75 million a year.
When PlanetF1.com asked Red Bull CEO and team boss Christian Horner about a prospective deal with Hugo Boss, the 49-year-old declined to comment but did talk about what can be expected for the Faenza operation moving forward.
“We will have a closer working relationship,” Horner exclusively told PlanetF1.com. “I was asked to identify a couple of candidates to get involved and create a new management team at AlphaTauri.
“The two guys that I felt were right for the role were Peter [Bayer] and Laurent [Mekies], I think they’ll make a strong team.
“I think that the relationship, within the realms of what we’re able to do within the regulations will become closer.
“There are aspects of the car that AlphaTauri haven’t taken advantage of under what’s permitted under the supply rules previously.
“So I can only see the relationship between the two teams becoming ever closer.”