Porsche may be looking for a more important role in Formula 1 than simply serving as an engine supplier.
Motor sports Wednesday reported that Porsche plans to buy 50% of the Red Bull Racing F1 team, citing legal documents provided in July to anti-cartel authorities around the world, including Morocco, where that information is made public.
The documents would have mentioned a 50% buy-in of “Red Bull Technology”, but Motorsport has reported that the deal will also extend to the Red Bull F1 team. Motorsport also reported that the deal could be formally announced as soon as August 4.
While Porsche has said it’s looking into an F1 rumor, the automaker hasn’t formally announced plans to enter the sport, either as a team owner or powerplant supplier. However, in May, outgoing Volkswagen Group CEO Herbert Diess hinted that Porsche, along with fellow VW group Audi, received the green light to enter F1.
Audi is thought to have attempted to buy McLaren as a means of getting into F1. Audi is currently thought to be in talks now with Sauber, which currently competes in F1 as Alfa Romeo.
According to Motorsport, Porsche and Red Bull Racing had planned to make their partnership known during the 2022 Austrian Grand Prix in mid-July, but decided to put things on hold until the FIA approved regulations for the new powertrain. will be introduced in 2026. One of the key conditions for Porsche is the use of 100% sustainable fuel, something that was confirmed by F1 organizers this week.
Porsche has a history in F1. He competed as a builder in the 1950s and 1960s and then briefly as a powertrain supplier in the 1980s and early 1990s. Although Audi has not competed in F1, it has a history of grand prix racing, having dominated the tracks alongside Mercedes-Benz in the 1930s, when it was Auto Union.