Wednesday 26th November 2008
Mateschitz buys out Berger
Red Bull chief Dietrich Mateschitz has reassumed total ownership of Toro Rosso after buying back a 50% share.
The deal, which is subject to approval by competition authorities, means soft drinks magnate Mateschitz now wholly owns two teams on the F1 grid - sister squad Red Bull Racing being the other.
Mateschitz established Toro Rosso after buying a controlling interest in the Minardi team from Paul Stoddart in 2005 and subsequently struck a joint-ownership deal with Berger Motorsport in 2006.
The 2008 season marked a watershed for the Faenza-based marque, with Sebastian Vettel securing their first ever win at the Italian Grand Prix. The team went on to claim sixth place in final constructors' championship standings.
"I am very happy that I can support Didi [Mateschitz] - who has committed himself to Formula One with so much dedication - with the reorganisation of the team and in this process to make use of my knowledge so effectively," said Berger.
"A 100% financing of a joint project by one partner can only make sense, to my mind, at an initial stage. This stage is over now. That's why Red Bull will take over the shares again."
Mateschitz added: "I'm very grateful to Gerhard for his enormous input. Together we have made Toro Rosso a team which, from 2008 onwards, will regularly qualify for the top 10 and collect championship points.
"Red Bull will now run Toro Rosso alone on this basis."
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