F1 team: Red Bull co-founder Dietrich Mateschitz dies at 78

Oct 22, 2022, 3:23 AM | Updated: Oct 23, 2022, 2:24 am
Red Bull chief Dietrich Mateschitz speaks  on June 13, 2022, in Salzburg, Austria. The Austrian bil...

Red Bull chief Dietrich Mateschitz speaks on June 13, 2022, in Salzburg, Austria. The Austrian billionaire, co-founder of energy drink company Red Bull and founder and owner of the Red Bull Formula One racing team, has died, officials with the Red Bull racing team said, Saturday, Oct. 22, 2022. He was 78. (AP Photo/Andreas Schaad, File)

(AP Photo/Andreas Schaad, File)

AUSTIN, Texas (AP) — Austrian billionaire Dietrich Mateschitz, the co-founder of energy drink company Red Bull and founder and owner of the Red Bull Formula One racing team, has died. He was 78.

Officials with the Red Bull racing team at the United States Grand Prix in Austin, Texas, said Saturday that Mateschitz had died.

Mateschitz gained fame as the public face of Red Bull, an Austrian-Thai conglomerate that says it sold nearly 10 billion cans of its caffeine and taurine-based drink in 172 countries worldwide last year.

Mateschitz not only helped the energy drink become popular around the world, but also built up a sports, media, real estate and gastronomy empire around the brand.

With the growing success of Red Bull, he significantly expanded his investments in sports. Red Bull now operates football clubs, ice hockey teams and F1 racing teams, and has contracts with hundreds of athletes in various sports.

Mateschitz and Thai investor Chaleo Yoovidhya founded the company in 1984 after Mateschitz recognized the potential in marketing Krating Daeng – another energy drink created by Chaleo – for a western audience. Red Bull says Mateschitz worked on the formula for three years before the modified drink was launched under its new name in his native Austria in 1987.

Under Mateschitz’ stewardship, Red Bull quickly increased its market share, first in Europe, then in the United States, helped by marketing campaigns promoting the drink’s claimed stimulating properties and extensive sponsorship agreements in motorsports, soccer, extreme sports and the music industry.

The Red Bull Racing team has enjoyed success in Formula 1, winning the constructors’ championship in 2010, 2011, 2012 and 2013, while German driver Sebastian Vettel won four drivers’ championships in row while signed to the team.

Red Bull operates soccer teams in top divisions across Austria, Germany, Brazil and the United States. The company started by buying Austrian club SV Austria Salzburg in 2005 and rebranding it in the company colors under the name Red Bull Salzburg.

It repeated the move in Germany, where it bought fifth-tier club SSV Markranstädt in 2009, rebranded it as RasenBallsport Leipzig, and financed its steady progress through the league system till it was promoted to the Bundesliga in 2016. German league regulations prevented the company from naming the team Red Bull Leipzig – its name in German, RasenBallsport, means “grass ball sport Leipzig” but the club just refers to itself as RB Leipzig.

Mateschitz also made headlines for his populist views. He previously criticized German chancellor Angela Merkel for her handling of the refugee crisis over 2015-16. The Austrian Servus TV station, owned by Red Bull Media House GmbH, is known for promoting right-wing provocative views.

___

More AP auto racing: https://apnews.com/hub/auto-racing and https://twitter.com/AP_Sports

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Associated Press

Latvia considers Olympic boycott if Russians compete

RIGA, Latvia (AP) — Latvia will consider boycotting next year’s Paris Olympics if athletes from Russia and its ally Belarus are allowed to take part after Russia’s invasion of Ukraine. While various governments in Europe, including Latvia, have condemned the International Olympic Committee’s push to allow Russians and Belarusians to compete, and Ukraine has threatened […]
1 day ago
New Orleans Pelicans guard Trey Murphy III, right, goes up for a basket as Denver Nuggets guard Jam...
Associated Press

Murray, Jokic help Nuggets hold off Pelicans 122-113

DENVER (AP) — Jamal Murray is locked in right now — with his shot, with his swagger and especially with his confidence in his team. “It’s fun to play basketball,” the Denver point guard said. “But we still have room to improve. We’re not satisfied with where we’re at.” Murray scored 32 points, Nikola Jokic […]
1 day ago
FILE - Phoenix Mercury center Brittney Griner (42) drives past Chicago Sky forward Candace Parker (...
Associated Press

Griner’s return, free agency raises charter flight concerns

Brittney Griner’s return to the WNBA this summer after being traded in a dramatic prisoner swap in December with Russia has collided with free agency, creating potential travel complications for the league out of safety concerns for her. If Griner, who is a free agent but has said she’ll return to Phoenix, needs special travel […]
1 day ago
Milwaukee Bucks' Khris Middleton drives past Charlotte Hornets' Terry Rozier during the second half...
Associated Press

Bucks beat Hornets 124-115 for 5th consecutive victory

MILWAUKEE (AP) — Khris Middleton is making the most of his limited minutes as he works his way back from injuries that kept him from playing for much of the season. Middleton scored 18 points and sparked a third-quarter run that put the Milwaukee Bucks ahead for good as they beat the Charlotte Hornets 124-115 […]
1 day ago
Los Angeles Clippers guard Paul George, right, slaps the ball away from Chicago Bulls forward DeMar...
Associated Press

Leonard, Powell lead Clippers past Bulls, 108-103

CHICAGO (AP) — Kawhi Leonard scored 33 points and Norman Powell added 27 to help the Los Angeles Clippers beat the Chicago Bulls 108-103 on Tuesday night. Paul George added 16 points and 10 rebounds for the Clippers, who’ve won six of seven. Nikola Vucevic had 23 points and 14 rebounds to lead the Bulls, […]
1 day ago
Los Angeles Lakers' Anthony Davis (3) defends a shot by New York Knicks' RJ Barrett (9) during the ...
Associated Press

James has triple-double, leads Lakers past Knicks in OT

NEW YORK (AP) — LeBron James will soon be the NBA’s top scorer, though that was never his focus. He’s also one of the game’s leading passers, and combining the two — possibly better than anyone ever — is what really makes him proud. “I didn’t get to this point in my career by thinking […]
1 day ago
F1 team: Red Bull co-founder Dietrich Mateschitz dies at 78