Red Bull Racing team owner Dietrich Mateschitz has died at 78, Formula 1 announced Oct. 22.
Red Bull, the energy drink, was founded in the 1980s by Mateschitz. He bought Jaguar at the end of 2004 and renamed the team as Red Bull Racing starting in 2005.
Red Bull has 89 race wins as a team in F1, as well as six driver’s championships and four constructors’ championships.
Max Verstappen clinched this year’s driver’s championship in Japan, earning 12 wins so far in 2022.
Verstappen’s teammate Sergio Perez has three victories this year.
“I am deeply saddened by the news that Dietrich Mateschitz, a hugely respected and much-loved member of the Formula 1 family has passed away,” F1 President and CEO Stefano Domenicali said.
“He was an incredible visionary entrepreneur and a man who helped to transform our sport and created the Red Bull brand that is known all around the world.
“I will miss him greatly, as will the whole community in Formula 1, and our thoughts and prayers are with his family, friends, and the Red Bull and AlphaTauri teams at this very sad time.”
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