Porsche wants to buy 50% of Red Bull’s F1 division
Published on Jul 29, 2022 at 2:45 PM (UTC+4)
by Alessandro Renesis
Last updated on Jul 29, 2022 at 2:46 PM (UTC+4)
Edited by
Kate Bain
Porsche has finally made its plan to join Formula 1 official by acquiring a significant stake in Red Bull’s F1 division.
The news follows years of speculation and rumors.
Even though the deal is not officially signed, a document has revealed details of Porsche’s ambitious plan.
READ MORE: The Drive to Survive effect: Porsche and Audi to join F1 in 2026
The document in question was published by the Conseil de la Concurrence, a Moroccan authority that regulates competition in motorsports, and it was made public to comply with antitrust laws.
Yup, this means that bureaucracy is actually doing us a favor for once.
According to the Conseil, Porsche first revealed the proposed deal on July 8 ahead of the Austrian Grand Prix.
And the idea was to make the official announcement after the race but that didn’t happen due to a delay involving the FIA.
Porsche’s F1 debut will likely coincide with the new 2026 engine regulations, which are expected to revolutionize the current rules with the use of synthetic fuels and smaller engines.
Porsche has won races in just about every motorsport competition you can think of, but these days motorsport fans usually associate the name with Formula E and endurance races.
READ MORE: Red Bull is building a $6.1 million hypercar
In the late 1950s and early 1960s, Porsche entered more than 50 races in Formula 1 and Formula 2, winning the 1962 French Grand Prix with American driver Dan Gurney at the wheel.
Porsche retired from F1 the 1964 season and only made a brief and unfortunate comeback in 1991 as an engine supplier for the Footwork Arrows F1 team.
It didn’t go well.
Porsche supplied engines for the first six GPs but the Porsche-powered F1 cars failed to finish the race on all six occasions.
DISCOVER SBX CARS: The global premium car auction platform powered by Supercar Blondie
