Red Bull GmbH and Red Bull North America, Inc. have decided to stop the Red Bull Stratos program with immediate effect.
Felix Baumgartner had been scheduled to undertake a stratospheric balloon flight to 120,000 feet and attempt a freefall jump that for the first time would reach supersonic speeds as well as deliver valuable scientific data.
Despite the fact that many other people over the past 50 years have tried to break Col. Joe Kittinger's (Ret.) record, and that other individuals have sought to work with Red Bull to break his record, Mr Hogan claims to own certain rights to the project and has filed a multi million dollar lawsuit earlier this year in a Californian court. Red Bull has acted appropriately in it's prior dealings with Mr. Hogan, and will demonstrate this as the case progresses. Due to the lawsuit, we decided to cancel the project until this case has been resolved.