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International fashion brand Hugo Boss has reportedly entered negotiations to become the title sponsor of Scuderia AlphaTauri.
The AlphaTauri name will be gone by the end of the 2023 season (Image Credit: @AlphaTauriF1 on Twitter)According to RacingNews365 and formula.hu, Hugo Boss CEO Daniel Grieder is interested in elevating the world-renowned fashion house’s presence in Formula 1.
Hugo Boss, often referred to by their stylised moniker BOSS, are already partnered with the Aston Martin F1 Team, with their logo featuring on the AMR23’s front-wing endplates.
With Red Bull senior advisor Dr. Helmut Marko already confirming that the AlphaTauri name will be no more by the start of the next season, negotiations are ongoing regarding what the Faenza-based outfit will be referred to by 2024.
It is understood that the Red Bull brand has refused any offers involving the sale of the entire team, including a $1 billion proposal from an anonymous potential buyer.
This means the next course of action would be to become the title sponsor of the Red Bull sister team. Sources suggest that Hugo Boss will have competition for this position from Polish oil company Orlen. The Orlen branding already stars heavily on the AlphaTauri car with red accents scattered on the AT04.
However, Hugo Boss have an ace up their sleeve. Being a fashion brand, Grieder is inclined to take over the AlphaTauri fashion brand as he has stated his desire to expand BOSS’ influence in the clothing market. Hugo Boss could therefore buy out the fashion brand and become the racing team’s title sponsor. This puts the German company at an advantage as the AlphaTauri fashion division continues to struggle for sales.
AlphaTauri on the front covers
There is no denying that AlphaTauri have caused quite a stir in the past few months. As mentioned previously, the team won’t be referred to by their current name by 2024 as it’s parent team Red Bull looks to reassert control following a disappointing few years as an independently managed outfit.
Dr. Marko had already confirmed at the end of June that AlphaTauri will no longer design their own cars and will have a new name. He told Kleine Zeitung: “The course is clear: Follow Red Bull Racing as far as the regulations allow. Designing your own is not the way… There will be new sponsors and a new name.”
Along with this, AlphaTauri have confirmed that long-standing Team Principal Franz Tost will step down from his role at the end of 2023, to be replaced by Ferrari Sporting Director Laurent Mekies. Former FIA executive Peter Bayer has joined the team as their new CEO as well.
Dutch racer Nyck de Vries was controversially sacked as AlphaTauri driver after just ten races, with Red Bull reserve Daniel Ricciardo assuming the role alongside Yuki Tsunoda.
AlphaTauri are currently last in the Constructors’ Championship, and will be hoping a new title sponsor and substantial injection of funds will propel the team to a better position next year.
Feature Image Credit: Getty Images