ALPHATAURI are set for a new name change as the Red Bull-owned team looks to be revamped.
The junior Formula One team – formerly Minardi and Toro Rosso – was subject to a $1billion takeover bid, according to racingnews365.
AlphaTauri are set for a name change
But Red Bull rejected it and instead want to find a new sponsor for the team.
Instead, designer clothing brand Hugo Boss are said to be negotiating a deal to become the title sponsor of the AlphaTauri team.
AlphaTauri’s results for the team have been far from ideal, finishing no higher than sixth in the constructors in the last three seasons, with last season seeing them end a lowly ninth.
The clothing brand – who are the main sponsor of the team – are also experiencing a tough time off the track – running at a loss.
In an effort to curb these results, Red Bull advisor Helmut Marko previously admitted the team will be undergoing a rebranding and restructuring.
Speaking to Austrian newspaper Kleine Zeitung, Marko said: “AlphaTauri will have two new leaders in 2024, Laurent Mekies and Peter Bayer. There will be new sponsors and a new name.
“The orientation is clear: follow Red Bull Racing as far as the regulations allow. Own designs are the wrong way to go.”
F1 is set to see the grid expanded to 12 teams in 2026, with Hitech GP – who run in Formula junior series including F2 and F3 – the latest to announce their intention to join the F1 grid earlier this week.
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Other manufacturers such as Audi, Porsche and Andretti Cadillac have also joined the list of prospective new constructors.
Some fans even wanted to see cult classic team Minardi – who competed in F1 from 1985 to 2005 – return after an absence of almost two decades.
In terms of next season, the changes at AlphaTauri look likely to extend to their driver line up with Nyck de Vries and Yuki Tsunoda coming under pressure to deliver with the team stuck in last place.
Tsunoda has scored both of the teams two points this term, and Marko has hinted at a shakeup with former Formula E and F2 champion De Vries looking likely to be on the chopping block.
Red Bull advisor Helmut Marko previously admitted the team will be undergoing a rebranding
