Multinational information technology (IT) company Cognizant will not retain naming rights to Aston Martin in Formula 1 from 2024. The deal began in 2021.

According to British SportBusiness, the team is considering leaving Aramco, the Saudi state oil company, which is currently the team’s main co-sponsor, alone as owner of the property. in 2024, the team will race under the official name Aston Martin Aramco Cognizant F1 Team.

“This was always planned as the second phase of this relationship. After gaining global brand recognition, Cognizant is deepening its partnership with us, applying its digital transformation to our business, on and off the track, and we are now building a deeper and broader relationship with them,” said a voice from the port team. , in an interview with SportBusiness.

“Our relationship with the Aston Martin F1 Team is a window into the experience and capabilities we can offer as a major technology brand. No company is at the forefront of performance and technology like a Formula 1 team. Having the opportunity to step in, analyze the business needs of the AMF1 team and design a series of solutions that not only improve performance but also maximize efficiency, demonstrates exactly what Cognizant can do for any business,” added Ravi Kumar, Managing Director of the company.

Currently, Aston Martin is embroiled in speculation about a possible sale by its current owner, Canadian billionaire Lawrence Stroll.

According to the German specialist site F1-Insider, a Saudi state fund would be interested in buying the team’s shares. According to the newspaper, the negotiations would be carried out precisely by Aramco and the amount of the sale could reach 800 million euros.