Mosley’s scandal keeps Porsche out of F1 

Written by David on April 18th, 2008 at 5:15 pmLast Update: April 18th, 2008 at 5:15 pm

PorscheThe recent sex scandal involving FIA President Max Mosley along with F1′s high costs, have forced the chairmans of German car manufacturers Porsche and Volkswagen to rule out entering Formula One. “After the affair with Max Mosley and the women it would not be very savoury to get involved now”, Porsche chairman Wolfgang Porsche, told to German news magazine Stern.

“300 million euros a year…that is just burning money,” Volkswagen chairman Ferdinand Piech was also quoted as saying to Stern.

Porsche is planning to acquire a majority shareholding in Volkswagen, the world’s fourth largest car producer and both German car makers were expected to enter Formula One.

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