Porsche has always been associated with a joint effort with Red Bull that would see the automotive brand return for the first time since the early 1990s.
It was widely reported that an agreement between the parties was imminent.
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The confirmation was expected to come at the Red Bull, Austrian Grand Prix.
However, that deal fell into the last hurdle.
Although the brand has confirmed that its plans with Red Bull have been put on hold, it is still interested in F1.
“Over the past few months, Dr. Ing. hc F. Porsche AG and Red Bull GmbH have held talks about the possibility of Porsche entering Formula 1,” a Porsche statement read.
The two companies have now jointly come to the conclusion that these talks will not continue any longer.
“The premise has always been that the partnership will be based on equal footing, which will include not only the engine partnership but also the team.
“This is not achievable. With the final changes to the rules, the racing series nonetheless remains an attractive environment for Porsche, which will continue to be watched.”
It is reported that Porsche wanted to acquire a 50 percent stake in the team, which led to the crisis of the Milton Keynes team.
What that means for Red Bull in the long run remains unclear.
Since 2019, the team has taken the engine supply from Honda. After the Japanese manufacturer pulled out of F1 at the end of 2021, the team was running the same engines under the Red Bull Powertrains umbrella.
Audi, another Volkswagen Group manufacturer, recently announced that it will join Formula 1 in 2026 under the new engine regulations.
Alfa Romeo will make way in Sauber for Audi’s presence at the factory in the championship.
F1 continues September 9-11 with the Italian Grand Prix at the Temple of Speed, Monza.
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