AlphaTauri team principal Franz Tost has issued a statement denying rumours the Red Bull-owned Formula 1 team will be put up for sale.
Since the death of Red Bull founder Dietrich Mateschitz in October last year, there have been several changes enacted in the leadership of the energy drink brand and also its expansive sports franchises.Oliver Mintzlaff, former chief executive of the RB Leipzig football team owned by the brand, assumed the position of CEO of Corporate Projects and New Investments at Red Bull last November which gave him responsibility over its media and sports investments including F1.
A media report last week claimed the future of the AlphaTauri F1 team was uncertain due to its lack of financial value to Red Bull. It claimed the company was looking to either sell its second F1 team or relocate to the United Kingdom.
Tost refuted those stories in a statement issued by the team today. “I had some very good meetings with Oliver Mintzlaff, who confirmed that the shareholders will not sell Scuderia AlphaTauri, and that Red Bull will continue supporting the team in the future,” he said.
“All these rumours have no foundation, and the team has to remain focused for the start of the season to perform better than last year.”
The Faenza-based team has been under Red Bull’s ownership since the end of 2005, and it entered F1 as Toro Rosso from 2006 to 2019 as a feeder team to the main Red Bull team based in Milton Keynes. In 2020 it was rebranded to AlphaTauri, the name of Red Bull’s fashion brand.
It has scored two wins during that time, both at the Italian Grand Prix, in 2008 and 2020. However it fell to ninth in the constructors championship last year, a result Tost has admitted was not good enough.
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SjaakFoo (@sjaakfoo)
1st March 2023, 11:40
Not has there been such an outrageous rumour since Ferrari had to release a press statement before the last GP that Binotto’s position was not in question and he would definitely not be replaced imminently by Fred Vasseur.
Archibald Bumfluff
1st March 2023, 12:02
The rumours of the sale of this team have been around since 2006.
The rumour comes up every few years and the people involved need to refute them.
I guess it’s that time again when we talk about the second Red Bull team being up for sale.
Tifoso1989 (@tifoso1989)
1st March 2023, 12:04
Red Bull now has to face the reality of having to deal with the new corporate structure (CEO, board of directors…) which will deprive them of their ability to take decisive decisions on the fly. In the past a simple phone call with Mateschitz would suffice, now they have to go through the usual bureaucratic process.
How Alpha Tauri’s value is going to increase by simply relocating to the UK ? Reducing taxation, expenses… maybe but that will not be a big deal. I think this is an attempt by Horner to convince the board of the directors of the utility of Alpha Tauri by creating new synergies that will benefit RBR.
MichaelN
1st March 2023, 14:30
Further integration of these teams should finally lead to a long overdue rethink of having Red Bull effectively field four cars (and five drivers). Especially in the cost cap era, such schemes – as with the Maranello-based “Haas” division – are even more questionable than before.
NS Biker (@rekibsn)
1st March 2023, 21:41
Now that the ten teams are in the “Cost Cap Era” the indications of late have been that all of the teams, even those down at the bottom end, are profitable, short and long term.
This is driving the interest in new teams and the obvious response positions, “we’re not for sale”.
Hass would be a logical buy for an outsider, but G. Hass is above all, a shrewd business man. Alpha Tauri is the next logical target, and here we are.
Chris Lloyd (@chrisr1718)
1st March 2023, 12:08
“good meetings with Oliver Mintzlaff, who confirmed that the shareholders will not sell Scuderia AlphaTauri”
Expect a sale to announced in the coming months…
Matt (@hollidog)
1st March 2023, 12:32
… At the price currently being offered
Qeki (@qeki)
1st March 2023, 20:21
But then next day we got an offer which was so good we sold the team.
It is hard to read between the lines if this is the truth or are they just trying to calm things down.
The Dolphins
2nd March 2023, 3:24
Would be a great outfit for Andretti. An Italian-American F1 team. Just need Ferrari to white-label their power unit so it doesn’t clash with the Cadillac brand, or stick with Honda as they’ve proven to not care whose name goes on the power unit