The Full Statement by Red Bull

"Three birds with one stone"

Today, at the Spa-Francorchamps circuit, an agreement was reached whereby, from 1st November 2005, Austria's Red Bull GmbH will take over all the company shares of the Minardi Formula One team and will be responsible for running the team. Red Bull will therefore run two Formula One teams from the start of the 2006 season onwards.

The second team will be positioned as a "Rookie Team" and this and the current Red Bull Racing will operate independently of one another and compete against one another on the track.

The main reasons for Red Bull deciding to enter a second team starting in the 2006 Formula One World Championship are:

1. Red Bull has more talented drivers than it has available cockpits. This meant there were only two ways of helping up-coming drivers: either place them in other teams or to increase the number of cockpits available to us. After much careful thought, Red Bull decided to go with the second of these options.

2. Looking at the current state of Formula One we feel that the second team will be able to maintain its current assets while also being able to generate its own income in the future, in order to become almost self- financing.

3. This acquisition also means that Red Bull now has a second vote in any matters raised regarding the future of Formula One.

At the moment, no decisions have been taken as regards the name of the team, its management nor its drivers.

shares
comments
Red Bull completes Minardi buyout
Previous article

Red Bull completes Minardi buyout

Next article

Horner: Minardi Deal Good for F1

Horner: Minardi Deal Good for F1
Grading F1's 2022 drivers at half-term Plus

Grading F1's 2022 drivers at half-term

Over the first 13 races of Formula 1's new ground effects era, Max Verstappen has surged into the lead in the world championship over Charles Leclerc. But as the 2022 season prepares to roar back into life, who stacks up as the top of the class, and who must do better? We graded every driver based on their performances so far

The 10 stories to watch out for across the rest of the 2022 F1 season Plus

The 10 stories to watch out for across the rest of the 2022 F1 season

It’s 13 down, nine to go as the Formula 1 teams pause for breath in the summer break. But what can we expect to happen over the next three months from Belgium to Abu Dhabi? Here's the key storylines to keep an eye out for the rest of the 2022 season

Formula 1
Aug 18, 2022
The inconvenient truth about F1’s ‘American driver’ dream Plus

The inconvenient truth about F1’s ‘American driver’ dream

OPINION: The Formula 1 grid's wait for a new American driver looks set to continue into 2023 as the few remaining places up for grabs - most notably at McLaren - look set to go elsewhere. This is despite the Woking outfit giving tests to IndyCar aces recently, showing that the Stateside single-seater series still has some way to go to being seen as a viable feeder option for F1

Formula 1
Aug 17, 2022
How a bad car creates the ultimate engineering challenge Plus

How a bad car creates the ultimate engineering challenge

While creating a car that is woefully off the pace is a nightmare scenario for any team, it inadvertently generates the test any engineering department would relish: to turn it into a winner. As Mercedes takes on that challenge in Formula 1 this season, McLaren’s former head of vehicle engineering reveals how the team pulled of the feat in 2009 with Lewis Hamilton

Formula 1
Aug 15, 2022
The under-fire F1 driver fighting for his future Plus

The under-fire F1 driver fighting for his future

Personable, articulate 
and devoid of the usual
 racing driver airs and graces,
 Nicholas Latifi is the last Formula 1 driver you’d expect to receive death threats, but such was the toxic legacy of his part in last year’s explosive season finale. And now, as ALEX KALINAUCKAS explains, he faces a battle to keep his place on the F1 grid…

Formula 1
Aug 13, 2022
The strange tyre travails faced by F1’s past heroes Plus

The strange tyre travails faced by F1’s past heroes

Modern grand prix drivers like to think the tyres they work with are unusually difficult and temperamental. But, says  MAURICE HAMILTON, their predecessors faced many of the same challenges – and some even stranger…

Formula 1
Aug 12, 2022
The returning fan car revolution that could suit F1 Plus

The returning fan car revolution that could suit F1

Gordon Murray's Brabham BT46B 'fan car' was Formula 1 engineering at perhaps its most outlandish. Now fan technology has been successfully utilised on the McMurtry Speirling at the Goodwood Festival of Speed, could it be adopted by grand prix racing once again?

Formula 1
Aug 11, 2022
Hamilton's first experience of turning silver into gold Plus

Hamilton's first experience of turning silver into gold

The seven-time Formula 1 world champion has been lumbered with a duff car before the 2022 Mercedes. Back in 2009, McLaren’s alchemists transformed the disastrous MP4-24 into a winning car with Lewis Hamilton at the wheel. And now it’s happening again at his current team, but can the rate of progress be matched this year?

Formula 1
Aug 11, 2022