Red Bull and Porsche had a “handshake” agreement regarding a 2026 Formula 1 partnership before the deal collapsed, according to Porsche CEO Oliver Blume.
Red Bull were known for some time to be in talks with Porsche over a partnership for the 2026 F1 campaign, when new engine regulations will come into play.
However, the deal fell through as the two parties couldn’t agree on terms regarding control of the team.
Christian Horner, who has headed Red Bull’s F1 team since 2005, said that his squad was not willing to sacrifice its DNA in any deal.
Blume confirmed that Porsche wished to be an equal partner in the agreement, with Red Bull opting to back away at the last moment.
“The talks went very well, a stake in the team was agreed on a handshake, but was not finalised at the last moment,” Blume said, as quoted by Speedweek.
“We wanted to be an equal partner. Everyone has to decide for themselves whether they want to sell shares. That’s okay with us. We behaved fairly.
“We will see what happens in the future and what will be attractive. We have a huge program [in motorsports] ahead of us that we’re looking forward to.”
Porsche is keen to install itself onto the F1 grid at the start of the sport’s new era and has not ruled out forming a partnership with another existing team.
Parent company Volkswagen has been pushing ahead with its F1 involvement, as Audi, which also falls under the Volkswagen umbrella, will arrive on the grid in 2026.
Audi will build its own engine and will also compete as the team currently known as Alfa Romeo, which is operated by the Sauber Group.
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