'Audi has big plans for McLaren's F1 team and raises bid'

The Volkswagen Group's interest in Formula 1 seems to be getting more and more serious. Porsche and Audi are planning to be part of F1 and after it came out last week that Volkswagen Group is going to agree to the entry of the two brands, Audi is already taking an extra step and increasing its bid for McLaren's F1 team.

So reports Automobilwoche, who also reported the news last November that Audi is interested in McLaren. Now the same German medium reports that Audi is going to place an even higher bid, from 450 million euros to 650 million euros. In the course of today (Monday), a letter of intent could even be signed by both parties.

Porsche is also looking at F1

Automobilwoche reports this on their site, without indicating how they got this information. So it is still unclear if both parties are ready to sign a letter of intent and how far both parties are in discussing. If McLaren accepts the bid, it will be a good first step for Volkswagen Group to get two brands into Formula 1.

Besides Audi, Porsche is also looking at entering F1, but at Red Bull Racing. The connections there have been very good for a long time and Volkswagen Group would like to make the cooperation between Porsche and Red Bull even more intense.