Red Bull to swap wings for wheels in bid for F1 team

LONDON - Red Bull is developing plans to launch its own Formula 1 team as it seeks to cement its lead in the global energy drinks market.

The firm, which sponsors the Sauber and Arrows F1 teams, is keen to build an all-US team that will guarantee it a massive profile around the world throughout the F1 season.

Red Bull already sponsors an F1 driver search initiative in the US, which has been set up to discover the US' next F1 star.

Red Bull is now looking at a longer-term plan to brand its own team, which it would do either by taking over a struggling existing team or by launching one from scratch.

The energy drink company sold 1.6bn cans in 62 countries last year and the US market outsold the UK for the first time.

A Red Bull spokeswoman said that the brand's eight-year relationship with Sauber and three-year sponsorship deal with Arrows would be reviewed "as usual" at the end of the current Formula One season.

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