Red Bull, which is the parent company of AlphaTauri, has stated that it is not interested in selling its junior Formula 1 team. Formula has made this announcement. The company currently known as AlphaTauri is owned by Red Bull.
Throughout the course of their history, this team has been known by the names Minardi and Toro Rosso. Formula is aware that a purchase offer of approximately one billion dollars has been turned down, but they are not taken aback by this turn of events.
Instead, Red Bull has been investing a lot of work into finding a new main sponsor for the team. Alphatauri squad is dubbed after the apparel brand that Red Bull founded in 2016. This has taken up a lot of the company’s time.
People also read: Iowa Showed Why IndyCar Needs More Bullrings
Sportsmen and Formula’s information has been confirmed by numerous credible sources. According to Formula, Hugo Boss is seeking to become AlphaTauri squad’s title sponsor.They added that Hugo Boss is currently in the process of negotiating to become the title sponsor of the AlphaTauri squad.
At the beginning of this year, Red Bull Motorsport Advisor Helmut Marko disclosed that one of the choices that will be available to be considered for the second Red Bull team that will race in 2024 would be the possibility of rebranding the team under a different name.
The departure of Franz Tost, who held the position of Team Principal for a considerable period of the organization’s history, is one of the big developments that are taking place at the club that is located in Faenza.
Peter Bayer, who is an ex secretary-general of the FIA, will also be moving into a new post, while Laurent Mekies. Laurent had previously worked in that capacity for Ferrari, will be taking up his responsibilities.