The potential deal between Red Bull and Porsche is reportedly “dead” after the two parties failed to find a common ground in negotiations.
The deal has long been suspected but picked up pace at the end of July when the first details of a potential partnership emerged.
The deal on offer was for Porsche to purchase 50% of the team which would have made them equal partners along with current owners Red Bull.
It seemed like a win-win for both teams and that a deal was only a matter of time, but since then they have hit major stumbling points and it now seems the potential link-up is dead in the water.
Christian Horner had said on Friday the deal would only be agreed to on “Red Bull’s terms” – and it appears those terms have not been met.
F1-insider.com reports the deal is now “dead” after the two parties disagreed on a number of elements.
“It was about the number of shares and the power that goes with them, as well as the price,” the German outlet reports. “In line with its own self-image, Porsche wanted to call the shots but Red Bull did not want to relinquish decision-making power.
“What’s more, the value of the team had risen since the negotiations began more than a year ago, according to Red Bull circles.”
Red Bull and Porsche were reportedly angered by Audi’s announcement of their arrival to the sport in 2026 and were concerned it had made the deal between the two seem much closer than the reality.
“The plan was to take over 50% of the chassis factory Red Bull-Technology and to cooperate with the engine forge Red Bull High Performance Powertrains, which would build Porsche’s power units for the period from 2026,” the report added. “The competition authorities had already given their go-ahead, Porsche had registered the trademark ‘F1nally’.
“But a week ago in Spa, Audi boss Markus Duesmann caused confusion, astonishment and anger at the same time at the parent company Volkswagen as well as at sister company Porsche with his heavy-handed and brash rush to announce the Formula 1 entry of the four rings from Ingolstadt and that of Porsche.
“After all, the Stuttgart-based luxury carmaker had not come to an agreement with Red Bull by a long shot.”
F1-Insider also quoted Red Bull advisor Helmut Marko as saying “Porsche will not become a shareholder in us”.
It remains to be seen where Porsche go next as they attempt to make their way onto the F1 grid, but the German outlet suggested McLaren may be an option given team principal Andreas Seidl’s links to the company as a previous team principal of the Hybrid Porsche LMP1 programme.