Did you know about Audi Bidding $718 Million on McLaren Offer to Enter F1 Next Year? Formula 1 has gained massive popularity over the last couple of years. Since Max Verstappen has taken the throne last year, it is clearly visible that young blood is ready to rule the jungle. However, Lewis has been the king for quite sometime and probably its time for him to enjoy the legacy.
Coming back to the topic, Audi has been showing interest into entering Formula 1 grid. They are in talks with the McLaren Unit after Audi published an whopping offer of $495 Million, but got rejected.
The news of a potential merger between McLaren and Audi sent shockwaves through the automotive industry. The two companies are expected to sign an agreement soon, with details on how it will be finalized later this month when their respective supervisory boards meet for discussions about sealing the deal.
Audi’s Interest in Formula 1
It has been reported that the parent company of Audi, Volkswagen AG is interested in acquiring McLaren. This would give them access to Formula 1 which experienced an increase year over year with revenue at $787 million and viewership reaching 1 .55 billion last season as the motorsports have seen rapid growth with revenue up 62% over last season.
McLaren later called off a potential deal, deeming Volkswagen’s initial offer as too low.
- Volkswagen could separately acquire shares in McLaren’s road car division and use it for its own purposes.
- This is where Porsche comes into play. The German automaker has been pursuing an partnership with Formula 1 team Red Bull Racing
New Car Design by the Giants?
It was announced this week that Volkswagen has joined the race to create an electric sports car with McLaren and BMW. The three companies signed a cooperation agreement on Monday, which will see them collaborate in developing architecture for future vehicles including those powered by batteries.
The agreement isn’t binding and could be voided with a deal between McLaren and Audi.
Volkswagen made a major subtraction from its portfolio last July. The company announced plans to offload its high-end Bugatti brand to Porsche and electric carmaker Rimac.
Porsche will own 45% of the company, while Rimac will own 55%.