While waiting for an official press release, which should be released on August 4th, Porsche acquired 50% of Red Bull Racing. In fact, the anti-cartel authorities have recently given the clearance for the partnership between the German car manufacturer and the Anglo-Austrian team.
The preview from Morocco
The applications were submitted both within the European Union and in around twenty other nations, including the Morocco. The legislation of the latter country requires publish each application once approved and for this reason the world of Formula 1 and beyond became aware of it.
The official document from the Conseil de la Concurrence revealed Porsche's intention to start a ten-year agreement with Red Bull, participating in 50% of its racing activities and providing the power units. Although it has not yet been clarified, it seems that the collaboration will also extend to the team Alpha tauri and other activities related to the Red Bull Racing brand.
As mentioned at the beginning, the official announcement will be made on August 4th and not during the weekend of Austrian Grand Prix as originally established. Porsche, in fact, was slow to get the green light for its return to the top automotive series, but why?
The FIA World Automobile Council has not yet approved the new ones engine rules which will come into force starting from the season 2026, a fundamental requirement for the agreement to be made official. Precisely this postponement, therefore, caused theanticipation of the Moroccan authorities. Below is the text of the request.
The official statement
“The Competition Council makes available to the public the following 'transaction summary' containing the information submitted by the parties. This information has been prepared by the notifying parties and is their sole responsibility.".
“Any inaccurate or misleading information contained herein shall in no way prejudice the Competition Council's position on the proposed transaction. […] 1. First operation relating to the creation of a joint venture between Red Bull and Porsche, the economic sector involved is the manufacturing of the power unit".
"Second operation relating to the acquisition of participation and control of 50% of the shares of the target company, the economic sector involved is the development and production of Formula 1 chassis [...] The deadline within which interested third parties are invited to submit the their comments is 10 days from the date of publication of this announcement, i.e. 4 August 2022. […] Red Bull will also develop and produce chassis for one of Red Bull's two Formula 1 teams”
Sources: Motorsport.com, Formula Passion, Motorsport-Total
