Porsche Acquires Majority Ownership of Manthey Racing

Porsche announced Saturday that it has acquired majority ownership in Manthey Racing GmbH, its operations partner for this year’s factory GTE-Pro program in the FIA World Endurance Championship.

The German manufacturer now holds a 51 percent stake in the organization, founded by former DTM driver Olaf Manthey (pictured) in 1996. Manthey Racing merged with fellow VLN squad Raeder Automotive in December of last year.

It was confirmed last month that Manthey would continue running Porsche’s factory program in GTE-Pro.

“I’m sure this will help us to prepare even better for the challenges we are facing together in the WEC and I look forward to working with Olaf Manthey, Nicolas Raeder and Martin Raeder," said Wolfgang Hatz, Board Member for Research and Development at Porsche AG.