Red Bull's junior team AlphaTauri looks set to change its name for the 2024 Formula One season and move into a closer technical collaboration with the reigning world champions.
Red Bull has two F1 teams, with the second operating out of Faenza in Italy as a place for the company's junior drivers to start their careers.
It is currently named after the company's fashion brand and formerly ran as Toro Rosso (Italian for Red Bull).
The death of Red Bull founder Dietrich Mateschitz last year raised questions about the long-term future of the team.
Sources have told ESPN that Red Bull has rejected takeover offers for AlphaTauri this year. Sources added that Mateschitz's son Mark, who owns 49% of Red Bull GmbH, is against selling because his father's vision was always to compete with two teams in the championship.
Red Bull is more open to finding a title sponsorship for the junior outfit, similar to Swiss-based team Sauber's partnership with Alfa Romeo.
According to Red Bull motorsport advisor Helmut Marko, the two teams will move into a relationship similar to Ferrari and Haas, who share as many parts as are allowed under F1's regulations.
"The course is clear: follow Red Bull Racing as far as the regulations allow," Marko said. "Designing your own is not the way. But there is more, as the AlphaTauri name will be discarded. There will be new sponsors and a new name."
AlphaTauri's driver lineup is currently a big talking point, with Marko recently admitting Red Bull boss Christian Horner was right to question whether Nyck de Vries was the right driver for the team this season.
De Vries is currently struggling for form. Daniel Ricciardo, currently Red Bull's third driver, is a strong candidate to replace him in 2024.