Wednesday September 27, 2023
The Best Employers in Sports Survey is Now Open!

Porsche Still Interested in F1 After Red Bull Deal Breaks Down

  • Porsche is no longer in talks to purchase half of Red Bull Technology.
  • The car company is still interested in entering Formula 1.
Porsche
Scott Ash / Imagn
Front Office Sports Today

Taylor Swift Takes NFL to New Heights

Taylor Swift and her rumored relationship have brought in a new, more female-heavy audience.
Listen Now
September 27, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

Porsche will not be entering Formula 1 with Red Bull after all.

Porsche was expected to purchase 50% of Red Bull’s F1 team and 50% of Powertrains, Red Bull’s new power unit manufacturer, according to a Financial Times report — but the pair weren’t able to come to an agreement.

“The premise was always that a partnership would be based on equal footing, which would include not only an engine partnership but also the team,” Porsche’s statement reads. “This could not be achieved.”

Red Bull’s investors reportedly weren’t willing to sell a stake in the team.

  • Bloomberg reported in July that Porsche and Red Bull couldn’t decide how much technology would be provided to Oracle Red Bull Racing compared to sister team AlphaTauri.
  • The sides were also in conflict over the power to name drivers for a joint race team.

But Porsche isn’t ready to call it quits with Formula 1.

“The racing series nevertheless remains an attractive environment for Porsche,” the statement reads.

The news comes shortly after Audi — which shares parent company Volkswagen with Porsche — announced plans to join F1 in 2026 as a power unit instructor.

Porsche’s Public Plans

Volkswagen announced plans earlier this month to take Porsche public through an IPO that could value the brand between $59.4 billion and $84.2 billion.

Volkswagen would offer 12.5% of Porsche, which has the potential to raise more than $10 billion.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Sponsored

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.

WBD Pursues ‘Different’ Strategy For Sports on Max

Company to place all of its live sports on new streaming tier

Colorado's Epic Victory Sets New ESPN Prime Time Viewership Record

Coach Prime Deion Sanders delivered in prime time on ESPN.
podcast thumbnail mobile
Front Office Sports Today

Taylor Swift Takes NFL to New Heights (w/ Andrew Brandt)

0:00
0:00

Featured Today

NFL's Swift Mania Starting To Show Impact Through Merch Sales, Viewership

Taylor Swift stole the NFL's spotlight by attending Sunday's Chiefs game.
First Take vs. FS1
September 26, 2023

Sharpe: 'First Take' Would Still Beat 'Undisputed' Without Stephen A.

Even if Smith leaves, Sharpe said he will still beat Skip Bayless in the ratings.
Rob-Manfred-MLB
September 25, 2023

Oakland-MLB Relationship Devolves Into Next-Level Toxicity

Commissioner, mayor have very different accounts of July meeting
Jacksonville Jaguars Team President Mark Lamping addressed community members at Strings Sports Brewery on Main Street for the first of 14 planned town hall sessions to present the team's plans for the new "stadium of the future" complex and address the public concerns.
September 25, 2023

Jacksonville Jaguars President Walks Back Stadium ‘Threat’

"Viewing those comments as a threat to leave Jacksonville isn't correct."

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
WWE-Wrestling-Ring

Panini Picks Up Legal Win, Will Still Make WWE Trading Cards

New York judge denies WWE's bid for restraining order
September 25, 2023

Hollywood Writers' Deal Would Boost Sports Networks and Agencies

Several major sports media entities, talent agencies exposed to strike's effects
September 21, 2023

TKO Makes First Big Move After WWE-UFC Merger

Investors drop TKO shares by 15% following SmackDown rights deal
Deion Sanders
September 19, 2023

Deion Sanders' Sunglass Tiff Nets Eyewear Company Nearly $4.5 Million

Sanders has Midas touch for sunglasses sponsor Blenders.
September 15, 2023

Goldman Sachs Opens Door For Clients To Invest In Sports Teams

Firm initiative opens new opportunities for wealthiest clients
An Everton player displays shirt sponsor Stake.com, a gambling company, during a match.
September 15, 2023

Everton Acquisition By 777 Partners Extends U.S. Presence in Premier League

American entities now control half of Premier League clubs
September 12, 2023

TKO $21B Merger Closes With Aggressive Ambitions

Newly created company looks to accelerate existing growth trajectory
CAA
September 7, 2023

Pinault Completes Landmark $7B Acquisition Of CAA

Major talent agency now in control of French billionaire