Audi and Porsche owner Volkswagen is likely to give the green light for the two brands to make their entry into motor racing’s Formula One at a meeting next week, two sources familiar with the matter said on Thursday.
“We will hopefully be able to communicate our intention to enter into Formula One then,” one of the sources said, with the second adding there was a “good chance” of a positive decision.
Volkswagen declined to comment. The news was first reported by Business Insider.
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There has long been talk of Audi and Porsche forming partnerships with existing Formula One teams, their most likely method of entry into the highest class of international racing.
Audi and McLaren denied reports last year that a partnership between the two brands had already been formed but said that it was under discussion, with a decision to be expected this year.
The VW Group is considering entering Formula One. RONNY HARTMANN/AFP via Getty Images
Audi will offer around €500-million…
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