Two F1 teams to change name for 2024 season as Red Bull make key decision

In the world of Formula 1, renaming a team is not unusual because sponsorship agreements and branding initiatives frequently lead to new identities for teams all over the grid.

In preparation for the 2024 season, two of the ten Formula 1 teams will change their names, one more dramatically than the other.

In the world of Formula One, money has always been king.
Therefore, branding initiatives and lucrative sponsorship deals frequently lead to changes in the identities of racing outfits on the grid, though some more frequently than others.

Over the years, the team that competes as Scuderia AlphaTauri has worn a few different identities.
Prior to being sold to Red Bull GmbH, it was first known as Minardi and competed in the world championship for 20 years under that moniker.

It was renamed Toro Rosso and used to develop young drivers from Red Bull Racing’s academy as the sister team. Since 2020, it has competed under the name of the company’s clothing line AlphaTauri, but that arrangement will end at the end of this season.

The team’s new “identity” has now been decided, according to Peter Bayer, the team’s new chief executive.
However, he remained mum regarding the team’s upcoming new moniker.

Discussions are progressing well, but I am unable to reveal the name just yet, he said.
“The shareholders have decided on the team’s identity; we will acquaint ourselves more with the Red Bull clan.
I’m thrilled to have been able to witness the formation of a Formula 1 team during this exciting time.
“.

Early on in the process, a return to Toro Rosso was disregarded. Instead, the group has been in talks with well-known companies about a potential lucrative business partnership.
Adidas has also recently been mentioned as a potential title sponsor, in addition to the strong association with Hugo Boss.

However, AlphaTauri is not the only team undergoing a name change at this time. The Aston Martin Aramco Cognizant F1 Team is also planning a slight change to its name, though it won’t be as obvious since the venerable automaker will still be the main sponsor.

Although it has a new contract with the team, the IT company Cognizant will no longer serve as the title sponsor.
The next full team name will be announced in “early 2024,” according to a team spokesperson.
“Cognizant was our first title partner, and they engaged with Aston Martin to build their brand,” the spokesperson said.

They continued, “This was always planned as phase two of that relationship – after achieving global brand awareness, they are deepening their partnership with us, they are applying their digital transformation to our business, both on and off the racetrack, and we are now building a deeper, broader relationship with them.
“.