Red Bull buy back STR F1
Labels:
F1,
Sports Management
The energy drink company anounced that have taken back Toro Rosso Formula One team.
In statement to the press, Red Bull said they had re-acquired co-owner Gerhard Berger's 50 percent holding "subject to approval by competition authorities"
Austrian Berger, a former Ferrari and McLaren driver with 10 Formula One wins to his credit, had controlled Toro Rosso jointly with Red Bull's billionaire founder and compatriot Dietrich Mateschitz since 2006. Mateschitz, who already owned the Red Bull Racing F1 team, bought the struggling Italy-based Minardi outfit at the end of 2005 and renamed it. Toro Rosso means Red Bull in Italian.
"Red Bull will now run Toro Rosso alone...as well as remaining a partner of Berger Logistik," said Mateschitz, referring to Berger's family-owned haulage firm which is half-owned by Mateschitz's company.
Toro Rosso's future had been in doubt, with Mateschitz saying in March that Red Bull wanted to sell their stake before 2010 when the current regulations require all teams to build and design their own cars.
In statement to the press, Red Bull said they had re-acquired co-owner Gerhard Berger's 50 percent holding "subject to approval by competition authorities"
Austrian Berger, a former Ferrari and McLaren driver with 10 Formula One wins to his credit, had controlled Toro Rosso jointly with Red Bull's billionaire founder and compatriot Dietrich Mateschitz since 2006. Mateschitz, who already owned the Red Bull Racing F1 team, bought the struggling Italy-based Minardi outfit at the end of 2005 and renamed it. Toro Rosso means Red Bull in Italian.
"Red Bull will now run Toro Rosso alone...as well as remaining a partner of Berger Logistik," said Mateschitz, referring to Berger's family-owned haulage firm which is half-owned by Mateschitz's company.
Toro Rosso's future had been in doubt, with Mateschitz saying in March that Red Bull wanted to sell their stake before 2010 when the current regulations require all teams to build and design their own cars.
Sphere: Related Content
Subscribe to:
Post Comments (Atom)
Post a Comment