Porsche & VW say no to F1

Car manufacturers Porsche and Volkswagen have ruled out becoming a part of Formula 1. Their reasons for not contemplating joining the sport are the high costs associated with an F1 team, and the sex scandal involving Max Mosley which is currently overshadowing the sport.

Taking to German magazine Stern, VW chairman Ferdinand Piech said, “300 million Euros a year that s just burning money.”

“And after the affair with Max Mosley and the women, it would not be particularly savoury to join now,” Porsche chairman Wolfgang Porsche added.

Porsche are currently in the process of acquiring a majority shareholding in VW and in the past, both German companies are thought to have been interested in becoming a part of Formula One.