The Aston Martin Aramco Cognizant Formula 1 Team is set to go by a new name, probably one that is a little shorter, after strengthening its partnership with a key title sponsor.
Aston Martin will be racing under a new name beginning with the 2024 F1 season. This is because the team’s current official name has been particularly long due to sponsorship requirements.
The team’s current name, which reflects the names of two of its largest sponsors, is the Aston Martin Aramco Cognizant F1 Team in the Formula 1 world championship.
However, one of the names is going to be dropped. Despite a recent declaration that the two parties’ partnership had been extended, Cognizant will no longer be the team’s title sponsor as of next season.
This is due to the fact that the second phase of the partnership deal is about to start, according to a representative from Aston Martin. Cognizant was the initial title partner, and it worked with Aston Martin to establish their brand’s reputation.
“Cognizant is a $35billion [£28.6million] company with 300,000 employees but three years ago it wasn’t a household name,” a spokesperson from Aston Martin said.
“Through the first phase of their partnership with us, they’ve achieved that – now, lots more people know who Cognizant are and what they do.
“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.”
The new official team name won’t be announced until the beginning of 2024, so there is currently no hint of what the new name could possibly be. If the team decides that another major deal is not necessary, it is likely that Saudi oil corporation Aramco will continue to serve as the team’s title sponsor and serve as the only brand that appears next to Aston Martin.
The New Jersey-based American IT company Cognizant has partnered with Aston Martin since the team changed its name from Racing Point to Aston Martin ahead of the 2021 season. Multibillionaire team owner Lawrence Stroll welcomed the partnership’s achievements in a statement he issued.
“Cognizant was Aston Martin’s first F1 title partner,” Lawrence Stroll said. “They completely understood how a high-profile sports marketing partnership could raise their international profile, and the first phase of our relationship has succeeded spectacularly in increasing their global brand awareness.
“As we enter this new phase of our partnership, we will deepen our relationship – we see things the same way.
“We have the same goals, and we work together in a truly unique and innovative way.
“What we’re seeing from working with Cognizant, is that they can really leverage their expertise in data, analytics and machine learning to make a marked difference to our efforts as a design team to build a faster racing car and become a leaner, more efficient organisation.”
