Red Bull owner Dietrich Mateschitz dies aged 78

Red Bull co-owner Dietrich Mateschitz has passed away at the age of 78.

Mateschitz founded Red Bull in 1984 with the drink’s founder, Thai Chaleo Yoovidhya, turning it into a drinks company and a leading brand in several sports including Formula 1, football and extreme sports.

He also bought two football clubs which are now known as Red Bull Salzburg and New York Red Bulls, plus the initiation of RB Leipzig in 2009.

Several top sportspeople have been sponsored by Red Bull from skiing stars to cyclists and racing drivers.

The long list includes skier Lindsey Vonn, baseball player Kris Bryan, tennis player Dominic Thiem and cyclist Tom Pidcock.

The news was announced ahead of qualifying for the United States Grand Prix, with Red Bull F1 team principal Christian Horner paying tribute to Mateschitz.

“It’s very, very sad,” Horner told Sky Sports. “What a great man. He’s few of a kind.

“What he achieved, what he’s done for so many people around the world, across different sports is second to none.

“So many of us have to be so grateful to him for the opportunism he’s provided, the vision he had, the strength of character and never being afraid to follow your dreams.

“That’s what he proved here in Formula 1, proving that you can make a difference. Just incredibly grateful for him, everything he’s done, everything he’s supported with over the years.

“So many drivers, so many team members, so many people in this pit lane owe him so much.

“As he would have wanted, he was passionate about Formula 1, passionate about the team, our determination is to go and do our best for him today and in the race tomorrow.”

Mateschitz bought the Jaguar Formula 1 team at the end of 2004, with Red Bull entering the sport the following year.

Twelve months later, he purchased the Minardi F1 team to form Toro Rosso, which translates to Red Bull in Italian.

Red Bull have won 89 Grand Prix since joining the sport, six drivers’ championships and are set to win a fifth constructors’ title.

Mateschitz saw Max Verstappen become a two-time world champion earlier this month.

Football teams Red Bull Salzburg, New York Red Bulls, Red Bull Brasil, Red Bull Ghana and RB Leipzig were all formed or re-branded under Mateschitz.

Since 2012, the Austrian owned ice hockey team EHC Munchen, which also changed its name into Red Bull Munchen.