Eddie Jordan: ‘Volkswagen to buy out Red Bull’

Volkswagen is close to buying the Red Bull Formula One team, according to a report on the BBC.

Jordan says a VW engine would not enter F1 until 2018 and Red Bull would use Ferrari power in the interim.

This new development follows Red Bull’s split from Renault as their principal engine supplier, a year earlier than the contract’s expiry date.

Red Bull boss Dietrich Mateschitz told his company’s Speedweek website on Friday that his team’s split from Renault was concluded “a few weeks ago”.

“They will run Ferrari engines in the short-term, they’ll sort that out, but in the long-term they need to go back to a works deal and that can only really be Volkswagen-Audi”.

Jordan has told BBC Sport that a deal is close to completion, which would see VW buy out the four-time constructors’ champions and run their own engine, with Red Bull to continue as a key sponsor.

The German manufacturer has repeatedly been linked with a move into Formula 1 over the years, but numerous efforts have repeatedly been vetoed by former group chairman Ferdinand Piech.

Red Bull have been fiercely critical of Renault and are on course to finish only fourth in this season’s championship which will see them lose out on an estimated £13million in prize money. Piech was met by vast pressure from the board members and resigned in April.

In May Marko said: “If we don’t have a competitive engine in the near future, then either Audi is coming or we are out”.

If Red Bull withdrew from F1 it would put the futures of two teams in doubt unless new investors could be found. The drinks firm now own Red Bull Racing in Milton Keynes, born out of what was originally the Stewart team, and Toro Rosso in Italy, formally Minardi.

Marko was speaking after Red Bull’s Daniil Kvyat and Daniel Ricciardo finished first and third in Friday’s second free practice session at the Singapore Grand Prix.