After months of speculation and initial business-related filings, the deal for Porsche to take a 50% stake in Red Bull Racing has fallen through.
In a statement, Porsche said: “In the course of the last few months, Porsche AG and Red Bull have held talks on the possibility of Porsche’s entry into 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. With the finalized rule changes, the racing series nevertheless remains an attractive environment for Porsche, which will continue to be monitored.”
It would appear that the main stumbling block was a differing mindset between the German marque and Red Bull Racing, with the latter concerned that a more corporate approach would be incompatible with the agile approach that has made Red Bull so successful.
