Porsche were in deep discussions with Red Bull over a potential deal from 2026, however an agreement couldn’t be reached.

"The premise was always that a partnership would be based on an equal footing, which would include not only an engine partnership but also the team,” Porsche said in a statement. “This could not be achieved.

"With the finalised rule changes, the racing series nevertheless remains an attractive environment for Porsche, which will continue to be monitored.”

Audi have already confirmed they will be a power unit supplier from 2026, while they are expected to complete the takeover of Sauber at some point.

With Audi already confirmed, Wolff is hopeful that another manufacturer like Porsche joins F1 in the near future.

“Definitely, it would be a great thing for F1 if Porsche would join as well,” Wolff said during the Italian GP weekend. “They just need to figure out if there’s another interesting project, whether they can buy a team. 

“Maybe that’s not ‘26, maybe that’s ‘27 or ‘28. They would be a great addition to the grid in F1.”

Wolff also thinks Porsche joining F1 would benefit the sport as a whole.

“Every large corporation, especially auto companies, not only auto companies because Red Bull is pretty good at that,” Wolff added. “Not only buys a racing team and invests large amounts of money into running it but invests even more into activation is beneficial to F1. 

“If a brand like Porsche, that is known all over the world puts their marketing dollars to activate F1 we will all be benefitting and I think this the important part, not just having a team and running it but in all the markets we race. 

“Big advertising, big campaigns, putting the brand out there, that’s why having these big brands in F1 is important.”