VW close to joining the Formula 1 Circus in 2018
Volkswagen is very close to agreeing to take over the Red Bull Formula 1 team, says Eddie Jordan.
The agreement would see VW buy Red Bull and build its own engine, while Red Bull takes the role as a major sponsor.
Jordan believes that VW would not be ready to introduce an engine until 2018 engine and that Red Bull would use Ferrari power in the interim.
The team is set to split with current engine partner Renault after this season, ending their contract a year early.
"Red Bull and VW have been in on-and-off talks for more than a year and I understand that the fundamentals of a deal for the sale of the team have been agreed," said Jordan.
"An arrangement whereby VW would take it over, becoming the fourth major manufacturer in F1, and Red Bull would continue to enjoy the high profile that comes from a major sponsorship suits both parties."
It is not clear which of the VW Group's brands would be promoted in F1, although Audi is the favourite. The company also owns the Porsche, Lamborghini, Bugatti, Bentley, Seat and Skoda marques.
Red Bull boss Dietrich Mateschitz said on Friday that his team's split from Renault was concluded "a few weeks ago".
He said using a Ferrari engine would be "a very acceptable solution for the next two or three years" but a contract with the Italian company was not finalised.
Back in May Marko said: "If we don't have a competitive engine in the near future, then either Audi is coming or we are out."
When either Christian Horner (Red Bull’s team principal) or Dietrich Mateschitz were questioned on the topic both have denied and said “There has been no dialogue with VW or Audi
Source: BBC Sport