Porsche's Enzinger reveals how Red Bull F1 deal collapsed at the last moment

Four years after Red Bull walked away from a blockbuster Porsche partnership at the eleventh hour, the man who led Porsche's F1 project has revealed the deal was far closer than anyone knew — a handshake between the two CEOs had already been made, and a joint announcement was scheduled.

Why it matters:

The collapse reshaped F1's power unit landscape. Red Bull went on to partner with Ford for its own engines, while Audi became the VW Group's only F1 entry. The revelations offer a rare inside look at how mega-deals can fall apart — and why the grid looks the way it does today.

The details:

• In a July 2026 interview, Fritz Enzinger recalled that Oliver Blume and Dietrich Mateschitz had already shaken hands on the deal.
• A joint press statement was planned for Spielberg or the following race, but delayed because "a few points in the regulations had not been completely clarified."
• Enzinger described a "change of direction" at Red Bull in the decisive days. He noted Mateschitz's health was "very, very poor," and the deal needed approval from both Austrian and Thai stakeholders.
• Porsche had signed a letter of intent to supply the power unit and buy 50% of Red Bull's F1 operation — a "partnership of equals."
• Porsche held no parallel talks with other teams; Red Bull was the only target.

What's next:

Audi now carries the VW Group's F1 ambitions with Sauber. Enzinger says in hindsight the failed deal had a positive side: given the auto industry's current difficulties, having two VW brands would have been "very, very difficult." The story stands as a defining 'what if' in F1 history.