Jost Capito at Volkswagen

Formula One teams come and go, but few have been the subject of such intense rumors as the potential participation of Volkswagen.

The German automaker is the largest in Europe that hasn't been part of the sport in recent history, and its executives have made several public declarations that entering the series in one capacity or another was under consideration.

That prospect appears to be off the table now, however, as the company's new motorsport chief, Jost Capito has nixed the idea. Capito, who recently joined VW from after leaving his position as head of racing and performance vehicles for Ford, is focused squarely on Volkswagen's new entry in the World Rally Championship.

That may not mean, however, that the possibility of F1 participation is off the table for one of the group's other brands, which include Audi, Seat, Skoda, Bentley, Bugatti and Lamborghini.