Porsche-Red Bull F1 Negotiations End Without Agreement

Talks between Porsche and Red Bull regarding their Formula One partnership have ended without resulting in an agreement, Porsche announced Friday.

Porsche said it had sought an agreement "based on equal footing" regarding the supply of new Porsche power units as well as control of the team.

It was previously reported that Porsche would acquire 50% of the team.

Since no deal was reached, the two parties decided to end talks, Porsche said Friday.

Porsche has not yet given up its ambitions to enter Formula One, saying that new power unit regulations due to be introduced in 2026 make the series an "attractive environment" and that it will continue to monitor it.

The new regulations, which call for lower costs and the use of 100% sustainable fuels, are proving attractive to Audi, another Volkswagen Group brand. In August, Audi announced that it would enter Formula One in 2026, when the new regulations are introduced, in partnership with an existing team believed to be Sauber, which currently races as Alfa Romeo. The contract between Sauber and Alfa Romeo is scheduled to end after 2023.

Like Porsche, Audi plans to develop its own power unit.

Porsche has a history in Formula One, competing as a constructor in the 1950s and 1960s and briefly as a power unit supplier in the 1980s and early 1990s. Audi does not compete in F1, but has a history in Grand Prix racing, dominating the race tracks in the 1930s with Mercedes-Benz, known as Auto Union.