Major blow for Aston Martin as the team set to lose its title sponsor for the 2024 season

Aston Martin has suffered a major setback as the team will lose its title sponsor Cognizant for the 2024 F1 season. The Silverstone-based squad formed an association with the IT firm that had seen the collaboration help with the digital transformation. By the looks of it, the title sponsorship will be over by the end of this season.

Even though Cognizant will continue to be a partner, it will not be the title sponsor. Right now, the team is called Aston Martin Aramco Cognizant Formula 1 team with the Saudi state-owned sponsor also a co-title sponsor at this stage.

This comes amidst reports of Lawrence Stroll making up his mind about selling the team to the Saudi state-owned fund. This also comes at a time when Lance Stroll, Aston Martin's owner Lawrence Stroll's son struggles to perform consistently alongside the team's star driver Fernando Alonso.

A report by SportBusiness stated,

“It is understood that the team is still evaluating its options in regard to title sponsorship and will confirm its new team name in early 2024. One of the options under consideration is understood to be Aramco taking on the title sponsor rights on a standalone basis."

“Despite Cognizant moving away from the title sponsor role, its renewal with the team is understood to be over the long term and will see its services integrated further within the Aston Martin F1 eco-system. The team indicated that the removal of the title sponsorship was driven by initial brand awareness objectives of the sponsorship having been achieved."

Aston Martin terms Cognizant's departure as part of the plan

Aston Martin spokesperson talked to SportBusiness and claimed that the partnership with Cognizant and departure from the title sponsor role was always part of the plan. It stated,

“This was always planned as phase two of that relationship – after achieving global brand awareness, Cognizant 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.”

All of these claims do not, however, quell what seem to be legit rumors that Lawrence Stroll might be looking for the exit route from F1. The team was built to make Lance Stroll a world champion but with his son not showing signs of being a potent frontrunner, it does appear that the writing is on the wall.