Porsche-Red Bull Formula 1 Deal Is Dead

After years of speculation, the details of Porsche's entry to Formula 1 became clear in late July. The German automaker would buy a 50-percent stake of Red Bull and a deal was set to be announced in early August. A little over a month after the tie up was supposed to be confirmed, Porsche announced today the deal is dead.

"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," a Porsche statement reads. "With the finalized rule changes, the racing series nevertheless remains an attractive environment for Porsche, which will continue to be monitored."

Red Bull team boss Christian Horner told Motorsport.com that "Porsche is a great brand. But the DNA is quite different. During the discussion process it became clear that there was a strategic non-alignment." According to a separate Motorsport.com story, Porsche wanted to take a hands-on approach with Red Bull, which the F1 team resisted. Understandably so, given that Red Bull powered Max Verstappen to a driver's title last year, and it's been the dominant team in F1 this year, almost certain to win driver's and constructor's championships before the season ends.