Porsche Advances Plans to Enter Formula 1 With Red Bull
Leaked documents indicate the German automaker will buy half of the racing team. But insiders say much remains to be determined.
Porsche and Red Bull Racing are working on a deal to share technology and branding for a Formula 1 team.
Photographer: Michael Reaves/Getty Images North AmericaLeaked documents that detail Porsche’s plan to buy half of Red Bull Technology are reliable, a Red Bull Racing spokesperson confirmed on July 28.
The filing, first reported on July 27, shows that Porsche petitioned Moroccan race authorities on July 8 regarding an impending 10-year deal with the F1 team. The notification outlined a 50% purchase of Red Bull Technology, which builds chassis for the Formula 1 team Oracle Red Bull Racing; it indicated that the partnership would also extend to the separate F1 team business.