Volkswagen due to finalise Red Bull Racing deal

German automakers Volkswagen are close to completing a buyover of stricken F1 team Red Bull Racing, says former F1 driver and team principal Eddie Jordan. According to Jordan, Red Bull would continue as a major sponsor, but both the chassis and power units would be manufactured by Volkswagen.

This looks to be welcome news for the Austrian team, which recently decided to terminate its relationship with engine manufacturers Renault after several issues this year left the team with repeated penalties and engine failures.

Team owner Dietrich Mateschitz and motorsport boss Helmut Marko were both vocal with their disappointment, and there had been significant talk of Audi supplying engines to the team. Earlier this year, however, team principal Christian Horner had said that Red Bull would honour their contract with the French automakers, with whom they were contractually bound through 2016. In a statement at the time, he said “ we have a contract with Renault, so there is no decision to make.”

It appears this is not the case, however. Following the ‘divorce’ from Renault, Red Bull Racing also approached Mercedes, who were said to have some interest in manufacturing engines for the team. Merecdes, whose power units are used by several teams other than their own – among them Force India, Lotus and Williams, ultimately rejected the deal,

Scuderia Ferrari chairman Ferrari Formula One chairman Sergio Marchionne had offered the team power units early in the year, but this offer would be declined by Red Bull, who at the time were still interested in maintaining their partnership with Renault.

It has also emerged that Lotus are likely to be bought by Renault, who will then bring back their works team, which last raced in 2010 and in its 8-year history saw Fernando Alonso win both his championships with the team, back-to-back in 2005 and 2006.