'Volkswagen will agree to Audi and Porsche F1 entry next week'

Several sources report that the Volkswagen Group will officially agree to the Formula One entry of Audi and Porsche next week. Strong rumors have been circulating about the two brands for months, but it seems that official confirmation will be announced soon.

News agency Reuters reports that Volkswagen is likely to give the green light to Audi and Porsche's F1 entry next week. Two sources are said to have confirmed this news. Earlier, Reuters reported that the deadline for the decision was scheduled for the end of March.

One of the sources reported that there is "a good chance" that the board will approve the plan. Volkswagen itself declined to comment. The news was also reported earlier this month by Business Insider.

Porsche collaboration with Red Bull

There has long been talk of an F1 entry by Audi and Porsche. The two brands would partner with existing F1 teams. Porsche would partner with Red Bull, while Audi would partner with McLaren. According to rumors, Audi would be willing to pay 500 million euros for a partnership with McLaren. Zak Brown previously confirmed that the team has held talks with Audi.

The decision does come at a difficult time for Volkswagen, which is struggling with uncertainty about the impact of the war in Ukraine. The situation will be discussed at the meeting.