F1
Audi confirms Qatar investment in its F1 team
Gernot Döllner and Mohammed Al-Sowaidi - Photo: Audi
The rumor of the last few weeks is now official: Qatar is acquiring a stake in the future Audi team F1 team.
« Audi and Qatar Investment Authority (QIA) are partnering to accelerate preparations for the four rings’ entry into Formula 1 in 2026. QIA, the sovereign wealth fund of the State of Qatar, has signed definitive agreements to acquire a significant minority stake in Sauber Holding AG, Audi’s future works team. ", announced the German manufacturer in a press release published this Friday at the end of Free Practice 1 of the Qatar Grand Prix. The exact share acquired by the Gulf country is not specified.
The arrival of the sovereign wealth fund of the Qatari state is a new building block in the project of the company with the rings. In recent months, the German manufacturer, which will take Sauber's place on the grid in 2026, has announced the arrivals of Mattia Binotto (ex-Ferrari) at the head of the project, Jonathan Wheatley (Red Bull) as team principal from the middle of next year and drivers Gabriel Bortoleto (20, leader of Formula 2) and Nico Hulkenberg (37 years old, Haas) as regular drivers from the 2025 season.
« QIA’s investment reflects the confidence that the Audi F1 project has already generated, underlining Audi’s unwavering commitment to this initiative, says Gernot Döllner, CEO of Audi AG and Chairman of the Board of Directors of Sauber Motorsport AG. This additional capital will accelerate the growth of the team and is a new step in our long-term strategy. QIA's involvement further boosts the efforts deployed in the facilities of Hinwil and Neuburg, who are working towards Audi's entry in 2026. »
« Audi is a partner of choice with a rich heritage in motorsport, adds Mohammed Al-Sowaidi, CEO of QIA. As a long-standing investor in the Volkswagen Group, we believe in Audi’s vision and direction as it enters Formula 1 and our investment will support the realization of this goal. QIA believes that Formula 1 is a sport with significant untapped investment potential. The increasing commercialization of professional sports as a global entertainment offering and the growing popularity of Formula 1 globally have created an exciting opportunity for our first major investment in motorsport.”
The press release specifies that this transaction is subject to the usual regulatory approvals.
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Valentin GLO
Journalist. Endurance reporter (WEC, IMSA, ELMS, ALMS) and sometimes F1 or IndyCar.
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Azehaf
01/12/2024 at 02:09 a.m.
Arab billionaires, with 1 or 2 billion you could help Audi Brussels to restart and thus save the factory and everyone around it at least 3000 internal employees, subcontractors and small traders around the factory.
Azehaf
01/12/2024 at 02:02 a.m.
It was better to save Audi Brussels with all the millions circulating... it's too sad for all our memories and for the 3000 colleagues who will lose their jobs in 3 months 😔