The Faenza-based team, AlphaTauri, announced plans last month for a significant rebrand, something designed to enhance the squad’s financial sustainability. Despite earlier speculations about potential total sales by Red Bull‘s new top management, orchestrated by Oliver Mintzlaff following the death of Red Bull co-founder, Dietrich Mateschitz, AlphaTauri is rather staking a new course.
In an effort to escape its current position at the bottom of the constructors’ championship, the team plans to focus on fortifying its UK aerodynamics operation in Bicester, while enhancing alignment with Red Bull. The revised strategy partly evolves from Red Bull management’s scepticism that the AlphaTauri fashion label’s profile has been sufficiently heightened by the 2020 name change for the earlier Toro Rosso team to remain economically viable.
AlphaTauri, having first debuted in F1 in 2006 as Toro Rosso, intends to abandon its current name starting 2024. It aims to introduce an enduring team and car name that will still maintain Red Bull affiliation. Team CEO Peter Bayer clarified that reverting to Toro Rosso is off the table.
In a revelation by F1 Initiative’s Italian franchise, a possible lucrative title sponsorship deal is under negotiation with Hugo Boss. The high-end fashion brand, currently associated with Aston Martin and formerly with McLaren, is clear about its intention for increased visibility in F1.
If this deal is successful, the name ‘Boss’, echoing its Aston affiliation that extends until 2025, could be adopted by AlphaTauri. Alternatively, ‘Boss Orange’, a nod to a specific clothing line of the brand, could be chosen.
Hugo Boss’ CEO since 2021, Daniel Grieder, previously led Tommy Hilfiger, a crucial partner of Lewis Hamilton and Mercedes. On discussing the title sponsorship prospects with F1 Initiative, AlphaTauri CEO Bayer stated, “We are discussing with several companies who are very interested in working with us in the future but at this time there is no information to be released.”
Former team principal Franz Tost, prior to his departure, commented on the subject last month, stating, “The title sponsor is a very attractive one, and we will see then what the negotiations will bring in the next months. We are talking to different companies. Fortunately, there is a big interest.”
These planned rebranding advancements for AlphaTauri coincide majorly with the team’s rescheduling for 2024. This involves structural changes including the appointment of Laurent Mekies, erstwhile Ferrari sporting director, as team principal, and Bayer, ex-FIA secretary general, assuming the role of CEO.