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Billionaire Red Bull co-founder and F1 team owner Dietrich Mateschitz dies aged 78 after a long battle with illness… as news hits the paddock for qualifying for the US Grand Prix in Austin
- Red Bull chief Dietich Mateschitz has died aged 78 after a long illness
- The Austrian billionaire co-founded the Red Bull company in the 1980s
- He combined the energy drink business with sports franchises in his career
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Red Bull Racing and football chief Dietich Mateschitz has died at the age of 78 after a long illness.
The Austrian was known for his long-standing stewardship of Red Bull after co-founding the energy drink company in the 1980s.
Mateschitz combined the company with his passion for motorsport and other sports and became the sponsor of many different teams around the world.
His company also bought Jaguar’s Formula 1 racing team and converted it to Red Bull Racing in November 2004. It has become one of the strongest teams on the grid.
So much so that Max Verstappen just won the drivers’ championship for this season while driving the Red Bull car. This is the sixth time that Red Bull has won the title.
Red Bull has also won the Constructors’ Championship four times since the team’s inception.
The company also owns AlphaTauri, which was acquired from the Toro Rosso team in 2016.
Mateschitz was a key member of Red Bull’s entry into football, as it has multiple teams in its portfolio.
Red Bull co-founder Dietrich Mateschitz has died aged 78 after a long illness
Mateschitz was also the chief of Red Bull Racing and the Red Bull football teams
Bundesliga side RB Leipzig, Austrian side Red Bull Salzburg, MLS franchise the New York Red Bulls and Brazilian team Red Bull Bragantino are the biggest clubs representing the drinks company.
News of Mateschitz’s passing has reached the F1 paddock and Red Bull staff as they were called to the hospitality area to be briefed on what was going on 45 minutes before qualifying for the United States Grand Prix in Austin. Texas had happened.
Red Bull Racing director Christian Horner paid tribute to Mateschitz, as he told Sky Sports: “It’s very, very sad,” he said. “What an amazing man, he is unique, what he has achieved and what he has done for so many people around the world and in different sports is unparalleled.
Christian Horner said Mateschitz made all the difference to Formula 1 before he died
“So many of us should be so grateful to him for the opportunities he presented, the vision he had, the strength of character and never afraid to follow and chase his dreams. He did that here in Formula 1, which proves that you can make a difference.
“We’re just incredibly grateful to him for everything he’s done and for everything he’s supported us with over the years. So many drivers, so many team members, so many people in this pit lane know him so well.
“As he would have wanted, we are now entering qualifying exactly as he would have liked. He was passionate about Formula 1, passionate about the team, and our determination is to do our best for him today and tomorrow in the race.”