Toro Rosso on Market As New Rules Curb Red Bull Tycoon

Dietrich Mateschitz, the billionaire founder of the Red Bull sports drink empire, has announced that he will sell his second-string formula one team, Toro Rosso, by the end of next season.

With a new Concorde agreement, the protocol governing technical and sporting rules in formula one, being introduced from the start of 2010 there is no way Mateschitz will be allowed to use "customer cars" - effectively Ferrari-engined versions of the Renault-propelled cars currently fielded by his prime operation, Red Bull Racing, for David Coulthard and Mark Webber.

After Sébastien Bourdais's points-scoring debut performance for Torro Rosso in Sunday's Australian grand prix, the Austrian tycoon confirmed to the website of the Swiss publication Motor sport Aktuell that he planned to dispose of the team.

"It is not a big secret that we have put Toro Rosso on the market," he said. "For the start of 2010 there will be a rule change and there will be no more synergy regarding design and construction of cars between Red Bull Racing and Scuderia Toro Rosso. There I see the necessity that we continue with one team only. We will not sell Toro Rosso during the 2008 season but it will be before 2010."

Mateschitz originally acquired the team, then known as Minardi, from Paul Stoddart and then disposed of a 50% stake to Gerhard Berger, the former McLaren and Ferrari formula one driver. Speculation about the future of Toro Rosso was fueled over the grand prix weekend when the Russian businessman Roustam Tariko, who had been linked by the former Ferrari driver Eddie Irvine with a plan to buy a team several years ago, appeared as one of Berger's guests.

Jean Todt, meanwhile, has formalized his move from his post as Ferrari chief executive to a "special appointment" within the company's racing department. Amedeo Felisa, formerly Ferrari's general manager, will replace Todt as chief executive, the company said in a statement after a shareholders' meeting.

Todt, who had already handed over his position as director of the Ferrari team to Stefano Domenicali in November, will remain a member of Ferrari's board as well as president of the boards of Ferrari Asia Pacific and Ferrari West Europe. He will also continue to represent the company on the FIA world council.

Ferrari said Todt would also be given a "special appointment" directly by the president, Luca Cordero di Montezemolo, within the racing department.

Since Todt's arrival at Maranello in 1993 Ferrari have won six drivers' titles, seven constructors' championships and 98 formula one races.