Porsche denies Manthey sale
Porsche confirms: Manthey will stay
Porsche has now officially denied rumours of a possible sale of Manthey. A spokesperson says the reports have no basis and a sale is not planned. With this, Porsche's 51 per cent shareholding in Manthey Racing GmbH seems secure.
Why did the denial come later?
Last week, Porsche did not comment directly, asking for understanding that it did not want to comment on speculation. The reticence is partly due to the fact that Porsche is a listed company. With stock market-sensitive information, a company must communicate very carefully so as not to cause market manipulation or mislead investors.
At the same time, Porsche is undergoing an ongoing review of its portfolio of holdings. Due to a sharp drop in profits this year and the announced departure of some of its staff, Porsche was reviewing all participations for their role and usefulness. This explains why an immediate denial took some time.
What does Manthey mean for Porsche?
Manthey is much more than an external racing team for Porsche. The Nürburgring-based company provides, among other things:
- Porsche Track Experience and branded cups,
- maintenance, construction and final assembly of Porsche race cars,
- race division delivery and logistics support.
The partnership is deep-rooted. Manthey was founded in 1996 by Olaf Manthey. In 2013, Manthey merged with Raeder Automotive and since then Martin and Nicolas Raeder have been co-owners and directors. Porsche has been a shareholder since that merger. Olaf Manthey remains active as an advisor and shareholder.
Given that close relationship, a sale would have had a clear impact on Porsche's racing business. With the official word now seems clear: Manthey remains Porsche's extended arm in racing for now.