Aston Martin’s Formula 1 team is set to undergo a name change for the 2024 season, marking a shift in the team’s title sponsorship dynamics. For the past two seasons, the team had raced under the name ‘Aston Martin Aramco Cognizant Formula One Team.’
Recently, Aston Martin confirmed an extension of their partnership with Cognizant, a US-based business technology firm that they had initially signed ahead of their rebrand from Racing Point. However, the new deal with Cognizant takes a step back from being a title sponsor.
Aramco’s Expanding Role
Reports in Italian media suggest that this shift in Cognizant’s title sponsor agreement paves the way for Saudi Arabian oil giant Aramco, which was already a co-title sponsor with Cognizant, to assume full naming rights. Aramco is aiming to expand its stake not only in the Formula 1 team but also in Aston Martin Lagonda, the parent company.
Aramco is significantly involved in the research and development of sustainable fuels, which currently power Formula 2 and Formula 3. Moreover, they are in the process of creating a zero-emission sustainable fuel that Formula 1 will transition to in 2026.
Cognizant’s Evolving Role
On the other hand, Cognizant has chosen to take a step back from being a title sponsor. This decision stems from having achieved the degree of visibility they aspired to when they initially partnered with Aston Martin in 2021.
While Aston Martin and Cognizant will continue their collaboration, they will not feature as part of the team’s entry name for the 2024 season, signifying a significant change in the team’s branding.
This transformation in sponsorship dynamics not only underscores the evolving landscape of Formula 1 but also the increasing role of sustainable fuel and strategic partnerships in the sport’s future.
