First details of Porsche’s F1 buy-in of Red Bull revealed

The first details of Porsche’s planned 50 percent buy-in of the Red Bull Formula 1 team have been revealed in legal documents, ahead of a potential announcement next month.

First details of Porsche’s F1 buy-in of Red Bull revealed
Listen to this article

Despite the lack of any official press release announcing that the long-rumoured partnership between the German car manufacturer and the Milton Keynes-based F1 squad is go, formal processes have begun to ensure that the tie-up does not hit a snag.

One of the hurdles that needed to be overcome was a green light from anti-cartel authorities around the world to ensure that there was nothing untoward in the two companies joining up.

As well as this needing to be done in the European Union, it also required applications to be lodged in more than 20 countries outside the EU.

One of these is Morocco, whose government legislation stipulates that applications are subject to mandatory publication once approved.

The process to get the green light has required Porsche and Red Bull to reveal details of their tie-up, which have now been published in Morocco by the Conseil de la Concurrence.

The document reveals 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 percent stake in its grand prix operation.

It suggests the partnership will be formally announced on August 4.

Max Verstappen, Red Bull Racing RB18, Sergio Perez, Red Bull Racing RB18

Max Verstappen, Red Bull Racing RB18, Sergio Perez, Red Bull Racing RB18

Photo by: Alastair Staley / Motorsport Images

This week’s notification mentioned only a 50 percent buy in of Red Bull Technology, but it is understood that the partnership will also extend to the separate F1 team business as well.

The revealing of the details by authorities, even before the announcement has been made public, has partly been triggered by delays in a formal green light from Porsche for its F1 return.

The original plan had been for its partnership to be announced at the Austrian Grand Prix three weeks ago.

However, that idea was postponed because the FIA World Motor Sport Council did not approve the engine regulations from 2026 as announced on June 29. Finalised engine regulations are a prerequisite for Porsche to officially communicate its entry into Formula 1.

While the Moroccan document only mentioned Red Bull, its sister squad AlphaTauri will in all likelihood also compete with Porsche power - anything else would be illogical in view of the synergies sought between Red Bull Racing and AlphaTauri.

The Faenza-based team will, however, remain 100 percent in the hands of Red Bull.

The second brand of the Volkswagen Group, Audi, whose Formula 1 entry has already been approved by all the necessary bodies, is not yet as far along with its project as Porsche.

Motorsport.com understands that the Ingolstadt-based company is still negotiating with Sauber owner Finn Rausing about the acquisition of 75 percent of the team shares.

The Volkswagen Group's Supervisory Board had already given the green light for Porsche and Audi's Formula 1 entry on April 7, 2022, and approved the corresponding budgets after all the boards of the two brands had previously given their consent.

Doubts arose briefly recently because Volkswagen Group CEO Herbert Diess announced his resignation on July 22.

However, Diess will be replaced on September 1 by the CEO of Porsche AG, Oliver Blume, who was already one of the major supporters of the Formula One program at brand level at Porsche.

Additional reporting by Luke Smith

Read Also:
shares
comments

Related video

What F1 drivers want changed to deliver consistent decisions from the FIA
Previous article

What F1 drivers want changed to deliver consistent decisions from the FIA

Next article

How AlphaTauri’s F1 update addressed its biggest weakness

How AlphaTauri’s F1 update addressed its biggest weakness
Why Vasseur relishes 'feeling the pressure' as Ferrari's F1 boss Prime

Why Vasseur relishes 'feeling the pressure' as Ferrari's F1 boss

OPINION: Fred Vasseur has spent only a few weeks as team principal for the Ferrari Formula 1 team, but is already intent on taking the Scuderia back to the very top. And despite it being arguably the most demanding job in motorsport, the Frenchman is relishing the challenge

Formula 1
Jan 27, 2023
The crucial tech changes F1 teams must adapt to in 2023 Prime

The crucial tech changes F1 teams must adapt to in 2023

Changes to the regulations for season two of Formula 1's ground-effects era aim to smooth out last year’s troubles and shut down loopholes. But what areas have been targeted, and what impact will this have?

Formula 1
Jan 26, 2023
Are these the 50 quickest drivers in F1 history? Prime

Are these the 50 quickest drivers in F1 history?

Who are the quickest drivers in Formula 1 history? Luke Smith asked a jury of experienced and international panel of experts and F1 insiders. Some of them have worked closely with F1’s fastest-ever drivers – so who better to vote on our all-time top 50? We’re talking all-out speed here rather than size of trophy cabinet, so the results may surprise you…

Formula 1
Jan 25, 2023
One easy way the FIA could instantly improve F1 Prime

One easy way the FIA could instantly improve F1

OPINION: During what is traditionally a very quiet time of year in the Formula 1 news cycle, FIA president Mohammed Ben Sulayem has been generating headlines. He’s been commenting on massive topics in a championship that loves them, but also addressing necessary smaller changes too. Here we suggest a further refinement that would be a big boon to fans

Formula 1
Jan 24, 2023
How can McLaren keep hold of Norris? Prime

How can McLaren keep hold of Norris?

Lando Norris is no longer the young cheeky-chappy at McLaren; he’s now the established ace. And F1's big guns will come calling if the team can’t give him a competitive car. Here's what the team needs to do to retain its prize asset

Formula 1
Jan 24, 2023
What difference did F1's fastest pitstops of 2022 make? Prime

What difference did F1's fastest pitstops of 2022 make?

While a quick pitstop can make all the difference to the outcome of a Formula 1 race, most team managers say consistency is more important than pure speed. MATT KEW analyses the fastest pitstops from last season to see which ones – if any – made a genuine impact

Formula 1
Jan 23, 2023
When F1 'holiday' races kept drivers busy through the winter Prime

When F1 'holiday' races kept drivers busy through the winter

Modern Formula 1 fans have grown accustomed to a lull in racing during winter in the northern hemisphere. But, as MAURICE HAMILTON explains, there was a time when teams headed south of the equator rather than bunkering down in the factory. And why not? There was fun to be had, money to be made and reputations to forge…

Formula 1
Jan 20, 2023
What Porsche social media frenzy says about F1’s manufacturer allure Prime

What Porsche social media frenzy says about F1’s manufacturer allure

Porsche whipped up a frenzy thanks to a cryptic social media post last week, and though it turned out to be a false alarm, it also highlighted more just why manufacturers remain such an important element in terms of the attraction that they bring to F1. It is little wonder that several other manufacturers are bidding for a slice of the action.

Formula 1
Jan 19, 2023