F1 Rumour: AlphaTauri In Talks With Adidas For 2024 Title Sponsorship Deal

AlphaTauri CEO also hints at Hugo Boss being involved in the project.

With recent rumors about Hugo Boss being the title sponsor of AlphaTauri from 2024, the latest report suggests that well-known sporting goods company Adidas could be the new title sponsor for AlphaTauri in the near future. 

Motorsport.com's Italian counterpart stated that Hugo Boss had entered negotiations over a title sponsorship deal with AlphaTauri as the brand was seeking greater exposure in Formula 1. 

However, the latest comments from AlphaTauri CEO Peter Bayer to Swiss publication Blick suggest that isn't entirely true. Instead, the publication hinted at the entry of sporting goods company Adidas into Formula 1 by being AlphaTauri's new title sponsor. He said:   

“They [Hugo Boss] are also involved in the new project. But the new name is much bigger!”

Suggesting a 'bigger name,' the publication pointed fingers at Adidas being the most probable title sponsor for AlphaTauri. With the team undergoing a management reshuffle, Bayer recently revealed the team's rebranding efforts to Planet F1. He said that Red Bull didn't want to sell the team but instead, chose to rebrand it entirely:

“They said, ‘Look, guys, we won’t sell it, we’ll keep the team.

"But we want to have a fresh start, we want to look at the global direction, strategic direction of the team, commercial success to sporting success. Let’s take a critical look at all the elements.

"That’s why it’s a unique opportunity. We’re building on experience but, at the same time, the sky’s the limit for innovation and development.”

Red Bull team principal Christian Horner said that the hiring of Peter Bayer and team principal Laurent Mekies would enable the sister company to have a closer working relationship with Red Bull. 

With the new name yet to be announced, it is clear as of now that Hugo Boss is involved in the new project but not as a title sponsor. The big reveal of the name is expected to happen by the end of this year.