Porsche has formally canceled its aspirations to enter the F1 grid alongside Red Bull after an agreement could not be achieved.
Red Bull and the German automaker were supposed to collaborate starting in the 2026 season.
Audi and Porsche had gotten approval from the Volkswagen Group to race in 2026, with the former reaffirming their participation in Formula 1 at the Belgian Grand Prix.
Porsche’s intentions had already received approval from the Volkswagen Group, but negotiations have broken down since a deal could not be reached about the portion of the Red Bull team that would be acquired by Porsche.
Porsche stated it is no longer pursuing a collaboration with the championship-leading team prior to the Italian Grand Prix weekend at Monza.
“In the course of the last few months, Dr. Ing. h.c. F. Porsche AG and Red Bull GmbH have held talks on the possibility of Porsche’s entry into Formula 1,” said Porsche in a statement.
“The two companies have now jointly come to the conclusion that these talks will no longer be continued.
“The premise was always that a partnership would be based on an equal footing, which would include not only an engine partnership but also the team. This could not be achieved.”
“With the finalised rule changes, the racing series nevertheless remains an attractive environment for Porsche, which will continue to be monitored.”
Despite the fact that Porsche and Red Bull have ended their negotiations, the manufacturer is still hopeful that it will eventually enter the sport. It is believed that other teams are still interested in working with the brand.
Red Bull boss Christian Horner had hinted that the deal would not happen in an interview with Sky news at the last weekend’s Dutch Grand Prix.
“Red Bull has always been an independent team, it has been one of our strengths and it has been the backbone of what we have achieved and our ability to move quickly,” Horner said. “It is part of the DNA of who we are.”
“We are not a corporately operated organisation and that is one of our strengths in how we operate as a race team and that is an absolute pre-requisite for the future.”
“They need to decide whether they want to join that party if not but it would have to be within the culture of the way to go racing.”