Porsche says it still has ambitions to be in F1
Porsche
Porsche has confirmed that the long mooted link-up with the Red Bull F1 team has now been called off.
Paddock rumours have circulated in recent weeks that the VW brand’s agreement with the Milton Keynes outfit had hit trouble over disagreements on how much control Stuttgart would have.
Porsche has now released a statement saying deal agreeable to the German marque “could not be achieved”, leaving both parties free to seek other partners.
Team principal Christian Horner, junior driver programme leader Helmut Marko and chief designer Adrian Newey had all apparently cooled on the idea of a partnership.
They preferred Porsche to be involved only with engine development, whereas it wanted greater influence over the team with a 50% stake, which it has now confirmed to be the case.
There is some big tectonic plate movement in F1 at the moment which could have a profound effect on the team landscape. Obviously the entry of the VW Group brands…
“In the course of the last few months, Dr Ing hc F Porsche AG and Red Bull GmbH have held talks on the possibility of Porsche’s entry into Formula 1,” the car manufacturer said.
“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.
“With the finalised rule changes, the racing series nevertheless remains an attractive environment for Porsche, which will continue to be monitored.”
Though the main sticking point is that Stuttgart does not currently have the infrastructure to produce its own power unit, one potential partner is Williams.
The Grove outfit is lead by Jost Capito, who used to be principal of VW’s WRC squad, and has also employed several members of the former rally team.
Michael Andretti, who is desperate to have his own F1 entry, could also provide a link-up, though how much control he would be prepared to cede remains to be seen.
After the recent rumours began to surface, F1 CEO Stefano Domenicali said there were a significant number of manufacturers ready to step in should Porsche withdraw its interest.
