What the Porsche exit rumours mean for Manthey Racing

Rumours about Porsche wanting to sell its stake in Manthey Racing have been circulating in the paddock for several months.

The Volkswagen Group brand reported a sharp drop in profits this year, forcing it to cut jobs across its automotive division. The weak financial performance also played a part in its impending exit from the Hypercar class of the World Endurance Championship at the end of the current season, highlighting the impact it is having on its involvement in motorsport.

In such a situation, selling its stake in Manthey, which handles a large portion of its motorsport activities, could inject fresh capital into the company.

Autosport’s sister title Motorsport-Total.com learned that Porsche has indeed reviewed numerous investments to streamline its portfolio, with Manthey being one of the firms it considered for potential changes to its investment. 

It is also believed that a high-ranking Porsche employee openly discussed seeking a buyer for Manthey during a 24-hour race in the summer.

This comes as a surprise, as Manthey is closely linked to Porsche and, with more than 350 employees, manages numerous other activities for the brand in addition to the racing programmes centred around the ‘Grello’.

Manthey manufactures tuning kits for Porsche road cars and organises the Porsche Track Experience, which gives customers the chance to drive Porsche road and race cars on grand prix circuits. This division alone employs more people than its racing arm. 

Manthey also hosts its own Porsche one-make series, the Porsche Endurance Trophy Nurburgring, as part of the Nurburgring Endurance Series (NLS) and is responsible for maintenance and parts support for the Porsche Cup. The new Porsche Cup car, which will be introduced in 2026, will also be built at Manthey. It is already responsible for the final assembly and delivery of Porsche’s Cup and GT4 vehicles at a facility near the Nurburgring.

Porsche doesn’t deny rumours

Manthey is highly profitable, generating a profit of €2.27m in 2023 and €3.2m in the year prior. 

In addition to Porsche’s majority stake, brothers Nicolas and Martin Raeder each own 20% of Manthey Racing GmbH and also serve as managing directors. The remaining 9% is held by founder Olaf Manthey.

When contacted about the speculation, a spokeswoman for Manthey said “We do not comment on these rumours.”

A Porsche spokesperson gave a similar comment: “We ask for your understanding that we do not comment on speculation, nor do we comment on it.”

While that is not a denial, it should be noted that Porsche AG is a publicly listed company and a clear statement could potentially impact its performance on the financial markets.

The case against Porsche selling shares in Manthey

Even in the event of a potential sale, for which there is currently no evidence at all, it would be hard to imagine the collaboration between Porsche and Manthey ending. 

“Porsche needs a service provider because they don’t have the capacity for it at the factory,” said a Porsche insider. “And they won’t get a better one.”

Apart from that, the question arises as to who should actually acquire Porsche’s shares in the business. The close relationship between the automaker and Manthey is considered one of the main reasons for the success of the team founded by Olaf Manthey in 1996, which has expanded significantly in Meuspath and now owns numerous buildings and halls.

It’s quite possible that nothing will change in the foreseeable future. A takeover of the shares would most probably result in Manthey’s value decreasing due to Porsche’s exit. 

“A Porsche exit would create uncertainty, which is why probably no one would take that risk,” believes one industry insider.

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– The Autosport.com Team