29 July 2022
Details of Porsche’s planned 50 per cent buy-in of the Red Bull Formula 1 team have been revealed in legal documents ahead of a potential announcement on August 4 2022; I understand the original announcement was planned for the early July Austrian Grand Prix.
The ‘leak’ occurred because agreement from a worldwide anti-cartel authority is required to ensure there are no adverse in the two companies amalgamating. In addition to the contract sanctioning in the EU, it requires lodging and approval by 20 countries outside of the EU; one such country, Morocco, whose policy is for applications, is subject to publication by the Conseil de la Concurrence.
The document revealed that Porsche notified the Conseil on July 8 that it will be ‘setting out on a 10-year partnership with Red Bull, which includes a 50 per cent stake in its Grand Prix operation.’
Although the document refers to Red Bull Technology, the planned union will include F1 business. Even though not specified, it would seem illogical not to have its sister racing team, Alpha Tauri.
Also, it appears that Volkswagen Group is negotiating with Sauber/ Alfa Romeo F1 team a 75% interest.
All the more interesting since Wolfgang Ullrich, head of Audi Motorsport for 23 years from 1993, said, ‘There’s a very good reason why we are not in F1; there’s no relevance to the road.’
