Porsche recently confirmed that the company is planning on joining Formula 1 as an engine supplier. However, if recent reports to be believed, then we might see a full-fledged team from the automaker as it is planning on buying the Red Bull F1 team.
This latest news comes via reports which has suggested that preliminary discussions regarding the acquisition process are already underway and if the deal goes through, then we will see a full team from Porsche inside next four years.
According to the latest report in Motor Sport Magazine, Porsche will take over the ownership of the team and will provide works for the engine program which will mark the company’s first attempt since 1990s when it failed to establish itself.
However, the probable takeover will not be changing the title of the team as Red Bull will keep the name but Porsche will provide all the required engine parts. As a result, the deal is a win-win situation for both parties meaning there’s a high chance of the deal going through after all.
The report suggested that the operations will be housed at the same headquarters. However, there’s no confirmation regarding the rumor just yet. As a result, we will have to wait a bit more to find out more in the coming months.
Featured Image: Pixabay/Aziz J.Hayat