Porsche has released a statement confirming that it will not enter Formula 1 with Red Bull.

Moves over recent months, coupled with statements from the Volkswagen Audi Group, implied a return to the pinnacle of the sport was something of a formality.

However, discussions between the two parties have broken down completely.

“In the course of the last few months, Dr. Ing. h.c. F. Porsche AG and Red Bull GmbH have held talks on the possibility of Porsche’s entry into Formula 1,” a statement from Porsche reads.

“The two companies have now jointly come to the conclusion that these talks will no longer be continued.

“The premise was always that a partnership would be based on an equal footing, which would include not only an engine partnership but also the team. This could not be achieved.

“With the finalised rule changes, the racing series nevertheless remains an attractive environment for Porsche, which will continue to be monitored.”

Rumours that the Porsche deal has been on the rocks have circulated for some time, with senior officials from Honda having been spotted in the Formula 1 paddock, meeting with Helmut Marko in recent weeks.

Red Bull currently leases the intellectual property to Honda’s power unit design and has recently stood up its own powertrains business with a view towards bringing its engine programme in-house for 2026.