Red Bull’s sister team has also been linked to welcoming Hugo Boss, the fashion brand, as a title sponsor but now Adidas are in pole position, Sky Germany report.
"As a matter of principle, we do not participate in speculation," a spokesman for Adidas told the German Press Agency.
Björn Gulden was appointed Adidas CEO in 2022 but, during his time at Puma, he had a close relationship with F1.
Puma signed an exclusive trackside deal with Formula 1 during his time in charge.
AlphaTauri, who are set for a name change in 2024, could now benefit from Adidas’ massive reputation.
They have confirmed Daniel Ricciardo and Yuki Tsunoda as their driver line-up for next year.