How were the BMW M colors formed?

 According to Marc Thiesburger the genesis of the M colors has to do with a potential deal between BMW and Texaco. Texaco is an American based Oil Brand. BMW was attempting to make a deal with Texaco, a deal leading to a sponsorship for BMW's motorsport endeavors. During talks for the deal were still on, BMW attempted to court Texaco by manufacturing a logo and racing livery keeping the to be partner in mind. But the deal fell through, even before BMW rolled out a M division product. And so were formed the 3 stripe