Dietrich Mateschitz has denied reports he might be looking to sell his Formula 1 team Red Bull to Audi.
On Thursday, stories emerged in the German press suggesting that the Red Bull mogul and billionaire might be looking to go beyond his role as a team owner and buy into the sport’s commercial rights.
In the process, he might be offering to sell the multiple title-winning Milton-Keynes based team to Audi, the Volkswagen-owned German carmaker, for €300 million by 2017.
“I don’t know anything about it,” Austrian Mateschitz insisted to the German-language Speed Week. “As far as I know, we are having no such ‘clearance sale’,” he added.