Who Owns the Red Bull F1 Team?

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December 22, 2020 10:21 am

The founder of the Red Bull Team is the Austrian entrepreneur, Dietrich Mateschitz. The 76-year-old according to Forbes has a net worth of $28.4 Billion. He further co-owns the canned energy drink- Red Bull. It was on a business tour to Thailand. He came across a Thai energy drink, which he subsequently liked. Further, he initiated a business plan with Chalerm Yoovidhya, the owner of the particular drink, and launched ‘Red Bull’.

Formerly known as the Krating Daeng, the beverage was available in the Thailand markets. Further, Mateschitz in collaboration with Charlem Yoovidhya, re-introduced the energy drink with an altered constituent in Thailand. Yoovidhya holds a major share in the company.

Formula One F1 – Abu Dhabi Grand Prix – Yas Marina Circuit, Abu Dhabi, United Arab Emirates – December 13, 2020 Red Bull’s Max Verstappen in action during the race Pool via REUTERS/Giuseppe Cacace

The beverage became globally recognized soon. Further, Mateschitz stepped his foot in the realm of sports too and claimed rights over various Sports teams. He owns teams in the arena of football, hockey, motorsports like NASCAR and F1.

It was till 2001 Mateschitz’s Red Bull sponsored the Sauber F1 team in huge proportion. However, in 2004 he signed the deal with Ford, popularly known as the Jaguar Racing F1 Team. Further, he named the team Red Bull Racing..

Red Bull Racing team in F1

The Red Bull Racing F1 team ran the maiden race in 2005. The team bossed the Constructors’ Championship four times in a row. The German racer, Sebastian Vettel, bagged the World Championship for the team four times.

Dietrich Mateschitz stands amongst the richest entrepreneurs in the world. Further, in 2004, he also signed deals for A1-Ring, the racing grid. It staged the F1 Austrian Grand Prix; he renamed the track as Red Bull Ring.

He is surely no ordinary man in the arena of F1. Subsequently, in 2005, he also claimed rights over the Italian-Minardi team. He named it Scuderia Toro Rosso.

The Honda-powered engine cockpits have excelled since time immemorial. The team falls among the dominating F1 teams at present. The present team principal is Christian Horner, while the advisor to the Red Bull GmbH is Helmut Marko. Further, the technical director of the Red Bull Racing team is Pierre Wache. The racers who will drive behind the wheel of the brand’s cockpits in the 2021 season are Max Verstappen and Sergio Perez. Max Verstappen aced the 2020 season finale race at Abu Dhabi Grand Prix.

Subsequently, to make the arena of Red Bull more entertaining, the company started creating a satirical magazine, The Red Bulletin. It is a magazine that is distributed among the paddock crew and the people from every grid.

On July 3, 2020, Mateschitz shared a letter in the magazine. Subsequently, addressing the audience and the crew members. It read about the problems faced by everyone in the F1 sporting realm. He further shared the gap that everyone witnessed because of the global pandemic issue and how everyone is getting back to track.

Mateschitz stated, “In total, 217 days will have elapsed between the last Formula One race of 2019 and the first race this year, which represents the longest hiatus in the history of the championship.” further added, “That’s how we do things: with joy, optimism and tongue in cheek, which incidentally, was a philosophy of life Jochen Rindt was famed for. Exactly 50 years ago this Sunday, he won the French Grand Prix and thus laid the foundation of his world championship title. So, would he have liked what we have lined up for this week and next?”

He concluded the letter stating, “We think he would and we wish you an exciting season-opening Formula One weekend, which includes this Red Bulletin Special. From today, on every day of each race weekend here in Austria, it will give you a glimpse behind the scenes at the elite level of the sport and might even bring the odd smile to your face.”

Dietrich Mateschitz is a self-made entrepreneur and is globally recognized for his certain spears of involvement in various genres of business patterns. The Austrian with his business strategies gave his brand worldwide fame. Conversely, starting from F1 racing teams, The Red Bull Racing and Scuderia Toro Rosso, to football teams, NASCAR team, and racing grids too.

Read More: Why Did Toyota Leave F1?

 

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