It has been reported that Red Bull CEO Oliver Mintzlaff has reached an agreement with clothing brand Hugo Boss to rebrand the AlphaTauri Formula 1 team as “Boss” or “Boss Orange” from 2024.
In June, Helmut Marko unveiled plans to rebrand the struggling Red Bull junior team in what will be a second rebranding in four years.
According to a report from Motorsport.it, the Faenza-based team is set to move away from its AlphaTauri clothing line identity to another high-end fashion brand.
Over the course of the Belgian Grand Prix weekend, “multiple sources” confirmed to the outlet that Mintzlaff had signed a deal with Hugo Boss to become the team’s new title sponsor, providing a ‘high-profile financial commitment’.
The move is part of Mintzlaff’s aims to make the team, formerly known as Toro Rosso, financially self-sustainable. Red Bull is intent on not selling the team, with Helmut Marko confirming that the energy drink brand would not entertain existing bids reportedly worth over $1 billion.
Yuki Tsunoda (JPN) AlphaTauri AT04. 28.07.2023. Formula 1 World Championship, Rd 13, Belgian Grand Prix, Spa Francorchamps, Belgium, Qualifying Day. – www.xpbimages.com, EMail: [email protected] © Copyright: Bearne / XPB Images
Hugo Boss is not a stranger to Formula 1, though. The brand currently serves as Aston Martin’s official fashion partner. However, a title sponsorship under the guise of ‘Boss’ or ‘Boss Orange’ would certainly elevate the brand’s visibility.
Team principal Franz Tost had previously dismissed questions of whether the rebranding would mean a return of the ‘Toro Rosso’ name which the team competed under between 2006 and 2019, saying “I think there’s another possibility to get more money out of it.”
The rebranding also comes at a time when Tost, who has led the team since 2006, is set to retire at the end of the 2023 season. Former Ferrari sporting director Laurent Mekies will assume Tost’s role in 2024, while the FIA’s former F1 executive director Peter Bayer joins as CEO.
Marko stated that the rebranded AlphaTauri team will be required to follow Red Bull’s lead as closely as F1’s regulations allow, extending to the use of parts.
AlphaTauri has only managed to pick up 12 points heading into F1’s summer break, all of which have been scored by Yuki Tsunoda. Daniel Ricciardo, who replaced Nyck de Vries ahead of the Hungarian Grand Prix, is still waiting to get his tally going.
Keyword: Major fashion company linked to AlphaTauri F1 rebrand