Unofficial reports indicate that German car manufacturer Porsche may be looking to buy a 50 per cent stake in the Red Bull Racing Formula 1 team.
Porsche and Audi’s intentions to enter the world of F1 have previously been made clear in May of this year by the ex-head of Volkswagen Group, Herbert Diess.
However, documents detailing Porsche’s entry into the sport were published by Morocco’s Conseil de la Concurrence in July. Moroccan legislation deems that applications must be issued publicly once approved, hence the early release of the information.
The documents reveal that Porsche will be joining Red Bull for a 10-year partnership, including taking 50 per cent ownership of the F1 team.
Porsche’s partnership with Red Bull has come about amid plans to develop a power unit to meet F1’s 2026 engine rules.
Previously, Red Bull was in a technological partnership with Aston Martin while using Renault engines. Since Aston Martin has formed its own F1 team, Red Bull has been using Honda power units until its contract ends in 2025 with the Japanese company.
Come 2026, Porsche will provide Red Bull and most likely its sister team AlphaTauri with power units.
An official announcement of the partnership is expected on August 4.