According to the BBC, the Wolfsburg-based automaker has reportedly asked Stefano Domenicali, Ferrari’s former team principal, to prepare a report that outlines the pros and cons of participating in F1. Anonymous sources close to Volkswagen have revealed that executives believe F1 would be a better promotional tool for the brand than its successful World Rally Championship program.
Volkswagen’s motivation for considering an entry into F1 appears to be largely financial. The BBC reports that Mercedes-Benz, which recently won this year’s F1 Constructor’s Championship, spent about $160 million on its F1 program. The automaker’s television appearances over the course of the season amounted to about $2.8 billion when converted into advertising value.
During the same time period, the Volkswagen Group spent about $393 million on its miscellaneous motorsports programs but the advertising value of its on-screen appearances amounted to merely $30 million.
Some sources claim that Volkswagen would go racing by inking a deal with the Austrian Red Bull team while others believe it would form its own team from the ground up. Regardless, 83-year old F1 boss Bernie Ecclestone and 77-year old Volkswagen Group Chairman Ferdinand Piëch have had a difficult relationship for decades so analysts expect Volkswagen will not commit to the sport until one of the two executives steps down.
Volkswagen has refused to provide insight into its motorsport future and flatly denied all F1-related rumors.
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