As the 2024 Formula 1 season approaches, both AlphaTauri and Aston Martin are in for some name changes, albeit with different degrees of dramatic flair.

The world of Formula 1 is no stranger to shifts in team identities, often driven by financial considerations and branding initiatives.

The team currently known as Scuderia AlphaTauri has undergone multiple name changes through the years. It originally took to the track as Minardi, competing in the world championship for two decades before being acquired by Red Bull. Enhance your F1 viewing experience with attractive F1 betting odds from Nextbet. 

Following the acquisition, it assumed the name Toro Rosso, serving as a sister team to Red Bull Racing and a platform for nurturing emerging talents from the Red Bull Driver Academy.

Since 2020, the team has raced under the banner of AlphaTauri, a clothing company associated with the Red Bull group. However, this partnership is set to wrap up at the conclusion of the current season.

Peter Bayer, the team’s CEO, has revealed that their forthcoming “identity” has been decided, although the new name remains under wraps for now.

“Discussions are going very well. Unfortunately, I cannot disclose yet what the name will be,” he said.

“The shareholders have decided on the identity of the team; we will move a bit closer to the Red Bull family. It’s an exciting period to see the birth of a Formula 1 team; it’s a unique experience. I’m very happy to live through that.”

A return to the Toro Rosso name was ruled out. Instead, the team has been engaged in talks with well-known household brands for a potentially lucrative commercial partnership.

While Hugo Boss has emerged as a strong candidate, recent reports have also mentioned Adidas as a potential title sponsor.

However, it’s not just AlphaTauri that is in for a name change.

The Aston Martin Aramco Cognizant F1 Team is also in the process of a subtle transformation in its identity, although the prominent automaker will remain the team’s primary brand.

IT firm Cognizant has inked a new agreement with the team but will no longer hold the title sponsor role.

“Cognizant was our inaugural title partner – they partnered with Aston Martin to enhance the reputation of their brand,” explained a team spokesperson.

The full team name for the upcoming season will be unveiled in early 2024.Get the latest updates from the world of F1 only on Nextbet Sports.