Has Volkswagen bought Red Bull Racing?

Former F1 team owner turned BBC Sport pundit Eddie Jordan has gone on record saying that the Volkswagen Group is on the verge of buying the Red Bull Racing Formula 1 operation.

Speaking from Singapore, Jordan said, "Red Bull and VW have been in on-and-off talks for more than a year and I understand that the fundamentals of a deal for the sale of the team have been agreed."

"An arrangement whereby VW would take it over, becoming the fourth major manufacturer in F1, and Red Bull would continue to enjoy the high profile that comes from a major sponsorship suits both parties," added Jordan who is well connected in F1's upper echelons.

Which of the Volkswagen brands will become involved in the F1 project is not yet known, but would most likely be Audi who have a very effective motorsport programme in place and have massive experience in hybrid engine technology.

Other brands in the group include: Porsche, Lamborghini, Bugatti, Bentley, Seat and Skoda marques.

According to Jordan, Martin Winterkorn (pictured below) the chairman of the VW board of directors, has agreed a deal to buy the team with the energy drinks company billionaire owner Dietrich Mateschitz and motorsport advisor Helmut Marko.

Winterkorn is a big F1 fan who endured an internal power struggle against ousted VW Group chairman Ferdinand Piech. The latter was always anti-F1. The Red Bull deal would be a massive political coup for the current chairman.

Earlier this year, when Red Bull's relationship with current engine supplier Renault was at an all time low, Marko said: "If we don't have a competitive engine in the near future, then either Audi is coming or we are out."

VW Group and Red Bull have for severakl years had long term links in motorsport and are currently partners in WRC and DTM.

BBC report that Red Bull principal Christian Horner has consistently denied that the team have held talks with the VW Group and siad in June, "There has been no dialogue with VW or Audi."

However the heirarchy at Red Bull is such that Horner may not have been privvy to the Volkswagen negotiations.

A spokesperson for Volkswagen told DPA there would not comment on the revelations by Jordan: "Please understand that we will not be joining the speculation."

Watch this space...