F1 Rumour: Red Bull And Hugo Boss Deal Almost "Concluded" As Fashion Brand Sets Sights On AlphaTauri

Red Bull and Hugo Boss are said to be close to concluding the talks for the latter to take on the title sponsorship of AlphaTauri.

According to reports from F1Insider.com, the deal between Red Bull and Hugo Boss is "about to be concluded" for the latter to become the new title sponsor of the AlphaTauri team.

Moving away from its current moniker derived from Red Bull's in-house clothing brand birthed in 2016, AlphaTauri is on the hunt for a fresh, commanding sponsor. Whispers from insiders suggest that talks with the style behemoth, Hugo Boss, have kicked off.

As the calendar flipped pages, earlier this year, Helmut Marko, the influential advisor to Red Bull Motorsport, dropped hints suggesting the imminent renaming of Red Bull's sibling squad by the time 2024 rolls around. This isn't the only shift in the blueprint; the base camp in Faenza, Italy is prepping for other monumental changes. The baton of Team Principal will transition from the seasoned Franz Tost to Ferrari's former Sporting Director, Laurent Mekies.

Hugo Boss' pivotal shift towards the glamorous world of F1 is courtesy of its CEO, Daniel Grieder. Taking charge in the summer of 2021, Grieder, with a past decorated by a close alliance with the Formula 1 maestro Lewis Hamilton during his tenure at Tommy Hilfiger, charted a fresh course for Hugo Boss. This deviation from his Hilfiger blueprint earmarked the sports realm as prime territory to amplify the Hugo Boss presence.

Ambitious goals were set at the onset of Grieder's Hugo Boss journey, aiming to turbocharge sales to an approximate $4 billion by the mid-decade mark. Surprisingly, soaring sales figures have necessitated recalibrating this target, now elevated to $5 billion.