Porsche: participation in Formula 1 "agreed to a handshake"

Since negotiations with Red Bull broke down, the subject of Formula 1 at Porsche has been put on hold. There are currently no teams negotiating entry. And Formula 1 was not the central theme of the "Night of Champions," which took place last Saturday in the company dining room in Weissach.

The focus was on honoring various Porsche champions and motorsports records for the year 2022. In front of about 400 invited guests, Oliver Blum, CEO of Porsche (and at the same time CEO of the Volkswagen Group), then commented at least briefly about the failed negotiations with Red Bull.

"The negotiations went very well," Speedweek quoted him as saying from the stage. "Participation in the team was negotiated with a handshake, but it wasn't finalized at the last minute. We wanted to be equal partners. Everyone has to decide for themselves if they want to sell stock. ."

This is the first public statement from the Porsche boss since the failure of negotiations with Red Bull, and it is a statement without verbal deference, although it leaves room for interpretation between the lines in the sense that it was not Porsche, but Red Bull that unexpectedly backed out at the last meter of the negotiating marathon.

Farewell to Enzinger: Is Formula One now on hold?
However, Porsche's official language rule regarding Formula 1 remains unchanged: the racing series remains an "attractive environment" that "will continue to be watched." But at the moment there is no really concrete effort to enter the top class of motorsport as soon as possible.

One sign of this is the farewell to longtime Porsche motorsport boss Fritz Entzinger (from 2011 to 2021) at the Night of Champions. As head of Motorsport at Volkswagen, Entzinger was the driving force behind the concept of bringing the Group's two brands into Formula One from 2026. Which was also achieved with Audi.

But now that the Formula 1 theme has broken Enzinger's heart, the Porsche brand, at least temporarily, he is stepping down from all positions, as planned. "As of Jan. 1, I will be retired," he admits. Even after the Red Bull deal fell through, he continued to explore opportunities to bring Porsche into Formula One.

But now the subject is only simmering in the background. Behind closed doors, there are rumors that if a concrete scenario emerged that Porsche might enter Formula One after all, Enzinger would not resist supporting the project during the development phase as a consultant.

A standing ovation for Enzinger's farewell
Enzinger's (66) Weissach farewell gave him goosebumps. During the gala, he was invited to the stage by Porsche CEO Oliver Blum and honored with an award for outstanding service to Porsche and the Volkswagen Group.

Enzinger was a creator of motorsport who always acted from behind a background and was rarely available to the general public. This was already the case during his time in Formula 1 at BMW, where he pulled the strings following Mario Theissen and Gerhard Berger in team management; and later at Porsche.

Enzinger led the German sports car manufacturer to three overall victories in the 24 Hours of Le Mans races and eight world long-distance titles. As head of the LMP1 program, he created one of the most successful motorsports programs in recent times from virtually nothing. And with Andreas Seidl, he has an assistant who will later make a career in Formula 1.

Enzinger: a successful manager with heart
In his emotional speech, Blum emphasized not only Enzinger's sporting merits, but also his humanity. There is hardly a motorsport manufacturer with so much influence that has remained so accessible despite all his successes. The media sensed this, as did the hundreds of Porsche employees whom he captivated with his infectious commitment.

When Blume invited Enzinger to the stage, the audience in Weissach gave him a standing ovation, as well as from the assembled Porsche senior management (including development board member Michael Steiner and sales board member Detlev von Platen) and well-known Porsche partners such as U.S. motorsport manufacturer Roger Penske, who came especially for the Night of Champions.