RED BULL NOT RACING

The biggest grand prix car collection in the world is now part of the Red Bull motorsport empire.

Mark Mateschitz, the 32-year-0ld son of the late co-founder of the Austrian energy drinks company, has snapped up the 69-car collection of former grand prix ringmaster Bernie Ecclestone.

The sale price has not been disclosed, but it is rumoured to be more than $1 billion.

"It means a great deal to me to know that this collection is now in the very best of hands," said Ecclestone, presumably after he was paid.

Mark Mateschitz is following the path set by his father Dietrich, who took Red Bull into Formula One with two teams but also created a massive collection of classic aircraft – including propellor-driven fighters from World War II – at his Hanger-7 museum in Austria.

There is every chance that the historic Formula One cars could eventually be housed in a similar facility, as Mateschitz Jnr has promised to make the cars accessible to fans – unlike their hidden existence under Ecclestone's ownership.

“In the near future, it will be made accessible to the public at an appropriate location," he said.

The all-in sale is a reversal of Ecclestone's original plan to sell each car individually through British luxury car dealer Tom Hartley.

But, not surprisingly, the 94-year-old Ecclestone had a good reason – beyond the money – to sell to Mateschitz in a private deal.

He said the sale would prevent burdening his third wife, Brazilian businesswoman Fabiana, after he dies.

“With a bit of luck, I might get two or three more years, and I don’t want to leave all this for Fabiana to sort. All these car dealers would be driving her mad, so the best thing to do is to get all the cars together and try to make sure they go to proper homes," he said.