German publication Frankfurter Allegemeine Zeitung reports that Porsche spends around £250 million each year on its WEC outfit. The manufacturer is expected to officially confirm its withdrawal from the championship, of which it has been a competitor since 2014, imminently. It’s not yet known if or how Porsche will invest the savings it will make from doing so.
Porsche’s Volkswagen Group stablemate Audi withdrew from the WEC last year as Volkswagen looked to cut costs amid ever-growing Dieselgate levies. The group, despite the continuing cost-cutting, posted increased profits this year. Either Audi or Porsche is expected to make an entrance into Formula 1 pending approval from Volkswagen, from the 2021 season when engine regulations are tweaked.
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