Red Bull Boss Plans to Take Over Arrows

The driving force behind the Red Bull drink phenomenon, Dietrich Mateschitz, has told an Austrian magazine that he plans to take over British Formula One team Arrows and turn it into an American team with American drivers.

Austrian Mateschitz, who discovered the Red Bull drink in Thailand and marketed it successfully around the world, told current affairs magazine Format in its Monday edition that the project had the support of Formula One chief Bernie Ecclestone.

Mateschitz, who is ending his interest in Swiss Formula One team Sauber at the end of this year, said he owned a majority option on the British team which he might exercise as soon as this month.

Arrows have been owned since March 1996 by Briton Tom Walkinshaw and hold the Formula One record for number of races contested by a team without a win - 370 grands prix since 1978.

Mateschitz said the new "Red Bull All America Team" would be supplied with American engines from either GM or Ford and would also have U.S. sponsors. Arrows signed a deal in July to use the Ford Cosworth V10 engine for two years starting next season.

"And of course the drivers will also come from the U.S. That's why we'll soon stage a drivers' competition," he was quoted as saying by the magazine.

The Austrian, whose company is based in Fuschl, near Salzburg, said he hoped to sell his 64 percent stake in Sauber for an estimated 36.3 million euros ($33.32 million).

The United States is one of the biggest markets for the fizzy Red Bull drink, which is sold on its energy-boosting quality. A third of the group's sales of 1.1 billion euros are guzzled in the States.