Porsche's Plans to Buy 50% of Red Bull F1 Racing Team Detailed in Public Document

Rob Goldberg@@TheRobGoldbergFeatured Columnist IVJuly 28, 2022

Le pilote Sergio Perez (Red Bull) lors du Grand Prix de France sur le circuit Paul Ricard le 24 juillet 2022 au Castellet. (Photo by Victor LOCHON/Gamma-Rapho via Getty Images)
Victor LOCHON/Gamma-Rapho via Getty Images

Porsche is reportedly planning to purchase a 50 percent stake in Red Bull's Formula One operation, per Laurence Edmondson of ESPN.

Morocco's Conseil de la Concurrence published a document containing the automotive company's plans.

Red Bull confirmed ongoing discussions for Porsche to join the company by 2026, but denied that anything was finalized.

"Further to speculation that has been reported about a potential future involvement from Porsche into Red Bull Powertrains and Red Bull's Formula One team. As has been previously stated, the companies remain engaged in constructive discussions," Red Bull said in a statement to ESPN.

"We all are looking forward to the satisfactory finalisation of the FIA's various sporting, financial and technical regulations for 2026."

Red Bull engines have been produced by Honda since 2019 before it withdrew from F1 at the end of the 2021 season. Red Bull created its own powertrain division last year and planned to build its own engines by 2026, although it could now feature a partnership with Porsche.

Porsche has not been involved in F1 as a manufacturer since 1964.

Red Bull Racing, meanwhile, has become one of the most successful teams in the sport and currently leads the constructor standings for the 2022 season. Max Verstappen is in first place in the driver standings as he seeks his second straight title while his Red Bull teammate Sergio Perez is currently in third.

The team is looking to end an eight-year run of constructor championships by German manufacturer Mercedes, led by superstar Lewis Hamilton.

Porsche, also based in Germany, could help further boost the rivalry that has dominated Formula One for more than a decade.