Red Bull has once again acquired a 100 percent stake in Toro Rosso after buying out the team's co-owner, Gerhard Berger.
Change of heart from Mateschitz
Red Bull has once again acquired a 100 percent stake in Toro Rosso after buying out the team's co-owner, Gerhard Berger.
Energy drink billionaire Dietrich Mateschitz said in a statement that Red Bull would now run the team alone, subject to approval by competition authorities.
Mateschitz originally acquired the Faenza-based team, then known as Minardi, at the end of 2005, with friend and former F1 driver Berger taking a 50 percent stake early the following year.
"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," Berger said.
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."
Stronger proposition
Seen as the 'junior' outfit to Red Bull Racing, Toro Rosso nevertheless proved the stronger proposition this season and scored their maiden victory when Sebastian Vettel won the Italian Grand Prix in September.
The team went on to claim sixth place in final Constructors' Championship standings.
Although Red Bull use Renault engines and Toro Rosso Ferrari power, both teams run what is essentially the same chassis, designed by Adrian Newey and built by Red Bull Technology.
Tuesday's announcement represents an about-turn by Mateschitz who, anticipating the outlawing of so-called 'customer cars' by 2010 - meaning Toro Rosso would have to build their own chassis - had put his stake on the market.
It was not immediately clear what brought about his change of heart, although there has been talk recently of relaxing the 'customer car' rules at a time when teams are under pressure to cut costs.
With Vettel moving across to Red Bull, Toro Rosso have yet to announce their driver line-up for next season.
Vettel's 2008 team-mate Sebastien Bourdais - who has yet to be retained - said last week that the team needed money and were looking for a driver who could bring funds.