Formula One Scuderia Toro Rosso (Italian for Team Red Bull) has been put up for sale by joint-owners Dietrich Mateschitz and former F1 driver, Gerhard Berger. The recent announcement has put an end to rumors that have been circulating in auto racing circles for some time with regard to the fate of the team.
Dietrich Mateschitz is the man behind the successful Red Bull Formula One team, and Scuderia Toro Rosso has been considered to be Red Bull’s “B” team. With amendments to the Concorde Agreement, which will come into effect at the beginning of 2010, the collaboration between Red Bull Racing and Scuderia Toro Rosso will no longer be feasible. The Concorde Agreement amendment will prohibit Red Bull Racing from building cars for Scuderia Toro Rosso, prompting the decision to sell the team before 2010.
The Concorde Agreement is a contract between the motor racing events governing body, FIA (Federation Internationale de l’Automobile), Formula One teams and Formula One Administration. The agreement dictates the terms under which F1 teams compete in races, as well as the share split of television revenues and prize money. The main purpose of the Concorde Agreement is to promote the commercial success of Formula One in a professional manner. This is achieved largely through each team meeting its obligation to participate in every race of an F1 season, thereby making the sport financially viable for broadcasters who invest a great deal in the television broadcast rights.
Confirmation of the team being up for sale has led to much speculation as to who would be in the market to buy Scuderia Toro Rosso. Possible buyers include Nicolas Todt, the manager for Sauber driver Felipe Massa and son of Ferrari’s CEO, Jean Todt, as well as A1GP chairman Tony Teixeira. The current owners have made it clear that Scuderia Toro Rosso will only be sold if it is being put into safe hands.
Scuderia Toro Rosso made a notable start to the 2008 F1 season at the Australian Grand Prix, with Sabastien Bourdais featuring prominently throughout his F1 debut race. He narrowly missed fourth-place when his car suffered engine failure with two laps to go, but nevertheless was classified in seventh place. Auto racing enthusiasts agree that with performances of this caliber, Scuderia Toro Rosso should have no problem in finding a buyer.
There has been a lot of speculation and rumors in regard to the intentions Michael Schumacher might have to purchase the Formula One Team Scuderia Toro Rosso. Schumacher’s manager has been hinting at the possibility for months. For Michael Schumacher to have an interest, in a different role, in the sport he loves does not come as a big surprise. After his retirement from Formula One as a driver, the legendary seven-time world champion has been an adviser for his former Ferrari team.
The Scuderia Toro Rosso Team is owned by Gerhard Berger and Dietrich Mateschitz. Together they purchased the outfit from Paul Stoddart in 2005. The outfit raced under the name of Minardi from 1985, but due to budget restraints, Stoddart made the decision to sell the outfit to new owners that would be capable of ensuring a future for the team. And so the Red Bull car launched onto the circuit in 2006.
While the multi-million deal still has most people guessing and wondering, the entire Formula One community has already welcomed the idea with open arms. With such a brilliant reputation and a profound knowledge of the sport, most insiders feel that such a move can only be an asset to the Formula One Industry. As a team owner, Schumacher will still be able to be a part of the world that he took by storm and hopefully carry on doing so.
It has also been said, that not only does Michael Schumacher have his eyes on the Scuderia Toro Rosso outfit, but has also targeted Ross Brawn to assist him. Ross Brawn is known as a technical genius and was also the driving force behind Schumacher’s successful championship titles. Together they will definitely be a team to be reckoned with and breathe new life into the Formula One circuit, from a different point of view.
As the world waits in anticipation, for the truth to be revealed, fans and friends in the Formula One circles, eagerly look forward to welcoming Michael Schumacher back. And to support the loved and respected World Champion in his new seat, as team boss and owner.