Red Bull/Porsche F1 joint venture reportedly on thin ice

Rumors are gathering pace in the F1 paddock that the joint venture between Red Bull and Porsche that is to allow the latter to enter F1 is in jeopardy.

As recently as last week, all signs pointed to a long-term collaboration between Red Bull and Porsche set for 2026 that would see each party own an equal amount of shares of Red Bull Technology, the entity that operates the energy drink company's principal Formula 1 team.

At Spa, Audi publicly confirmed its entry into F1 from 2026 as a power unit manufacturer, and it was believed that its fellow VW affiliate Porsche would follow suit with an announcement of its own, possibly at Zandvoort.

But Red Bull team boss Christian Horner said in Belgium that no deal had yet been agreed with Porsche while insisting that its new engine department, Red Bull powertrains, was moving full steam ahead with the development of its in-house 2026 engine.

According to reports, Red Bull and Porsche are struggling to agree on key corporate matters such as future shareholders and voting rights.

But Volkswagen's upcoming $85 billion spin-off of Porsche is apparently also hampering discussions and potential arrangements.

Moreover, rumors have also emerged that Honda is considering extending its involvement in F1 and collaboration with Red Bull beyond 2025.

At Spa, Horner made clear that Red Bull Powertrains is proceeding with the development of its engine as scheduled and independently from Red Bull's negotiations with Porsche.

"Obviously, we're pushing ahead with Red Bull Powertrains," said Horner. "They fired up the first engine prior to the summer break. 2026 is still a while away.

"We have plenty of time, and of course, strategically, we will have to do what's right for the team and for the company. And obviously that's between the shareholders. And there's constructive ongoing discussions obviously with Porsche."

• Read also: No collaboration with Porsche on F1 engine, says Audi

Queried on an eventual prolongation of Red Bull's relationship with Honda, Horner said: "I think that for 2026, nothing is fixed.

"I mean, obviously, Red Bull Powertrains is established, we have more than 300 people recruited. So, that is our path."

Horner also revealed that Red Bull Powertrains is on course to register with the FIA as an engine manufacturer by October 15, a status that will give RPB the right to vote on any future rule changes.

"There is a date," he said. "But that doesn't preclude a deal being done after the 15th. So Red Bull Powertrains will be supplying two teams in 2026."

In short, RBP will produce a new-generation engine for 2026 as part of Red Bull's efforts to bring engine and chassis integration under one roof, with badging rights for the unit either picked up by a third party or assigned to Porsche as part of its joint-venture with Red Bull, if such an association comes to pass.

"We don't have time pressure," concluded Horner. "Because ‘26 is still three and a bit years away. So we don't need to be in a rush. And therefore, obviously, constructive discussions are ongoing."

Keep up to date with all the F1 news via Facebook and Twitter