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There was a rumour years ago that Porsche had tried to get into Formula 1. They'd designed and built an engine and ran it in an generic chassis. It was mothballed because they realised just how far behind everyone they'd be.
VW would have no interest whatsoever allowing any of the VAG companies to participate in F1 based purely on the cost. Look at all the hoo-ha VW had developing the Veyron. They made a catastrophic loss on each one and supplied substandard to all their cars for 5 years - all to prove a point.
handtightenonly
Here's an idea.......who's with me?
If some smaller teams were to not keep up with the others, then how about bringing back the name Alfa-Romeo to F1? Of course, being part of Ferrari they'd use the same engine, and some of the same financial backing.
Ok, so maybe they'd be a bit of the poorer cousin to Ferrari, but it would bring back some history, and would be unlikely to fold.
And Volkswagen need to be convinced to join. They would have the choice of running any of their more sporting marque's - Audi, Bentley, Lamborghini or VW as it's own race brand.