Credit: Red Bull Racing
It was expected that the German manufacturer would enter Formula 1 by purchasing a 50% stake in Red Bull Racing, following months of rumours and negotiations between the two parties.
However, in a statement released by Porsche, the brand confirmed that it would no longer be pursuing a deal with the Milton Keynes-based operation following the talks.
The statement said:
“In the course of the last few months, Dr. Ing h.c. F. Porsche AG and Red Bull GmbH have held talks on the possibility of Porsche’s entry to Formula 1.
“The two companies have now jointly come to the conclusion that these talks will no longer be continued.
“The premise was always that a partnership would be based on an equal footing, which would include not only an engine partnership but also the team. This could not be achieved.”
The ideal scenario of taking 50% of the F1 team seems to have recently come off the table, with recent comments from Red Bull indicating a wish to remain an independent body.
It remains unclear as to how Porsche will now look to break into the sport alongside fellow Volkswagen-owned brand Audi, who confirmed their entry at the Belgian Grand Prix.
Follow us on Twitter @ProstInt
Other Sports
News
Seattle Sounders FC 0-0 Club Puebla (Sounders advance 4-3 on penalties) SEATTLE, WA—Seattle Sounders FC…
Inter Miami CF 2-1 Tigres UNL FORT LAUDERDALE, FL--A pair of penalty kicks from Luis…
Canada 1-6 Aruba WILLIAMSPORT, PA--The Little Mountain Little League of Vancouver's time at the Little…
CHICAGO, IL--Chicago Fire FC appears to be making a change a center back. Joe Chatz…
(6) Portland Timbers (10,9,7, 37 points) vs (1) San Diego FC (16,7,4, 52 points) Saturday,…
The Portland Timbers have been busy this summer with the acquisition of three important players…