Qatar to purchase stake in Audi F1 staff
- Qatar Funding Authority to accumulate substantial minority stake in Audi-owned Sauber F1 staff
- Audi bought 100% of the Sauber F1 staff in March
- The Sauber F1 staff will race as Audi beginning in 2026
The Qatar Funding Authority, the sovereign wealth fund of Qatar, will purchase a “substantial minority” stake in Sauber, the Formulation 1 staff owned by Audi.
Phrases of the deal weren’t introduced, however Audi, in a press release launched on Nov. 29, mentioned the QIA will turn out to be a long-term investor and companion of the staff. Audi additionally mentioned the extra funding will assist speed up the enlargement of the staff and its amenities.
The staff is about to compete underneath the Audi banner beginning in 2026, when F1 introduces new energy unit rules with a better emphasis on electrification.
The QIA is already the third-largest shareholder in Audi’s Volkswagen Group dad or mum, with a stake of round 10.5%, and its funding within the Sauber F1 staff will make it the third West Asian nation with important investments in F1. Bahrain controls the McLaren F1 staff via its possession of the McLaren Group, whereas Saudi Arabia is a serious sponsor of each F1 and the Aston Martin F1 staff.
Audi CEO Gernot Döllner (left) and QIA CEO Mohammed Al-Sowaidi – Picture through Audi
“The rising commercialization {of professional} sports activities as an leisure providing globally, and the more and more international reputation of Formulation 1, has made for an thrilling alternative for our first main motorsports funding,” Mohammed Al-Sowaidi, QIA’s CEO, mentioned in a press release.
Sauber has competed in F1 since 1993 and gained its solely race on the 2008 Canadian Grand Prix, when it was a companion with BMW. Audi in March purchased 100% of the staff and can compete from 2026 with an in-house developed energy unit.
Destined to function staff principal will probably be former Crimson Bull Racing Sporting Director Jonathan Wheatley. Former Ferrari Workforce Principal Mattia Binotto may also function the staff’s chief working officer and chief technical officer.
Confirmed drivers are F1 veteran Nico Hülkenberg and newcomer Gabriel Bortoleto. They begin driving for the staff subsequent yr, changing present drivers Valtteri Bottas and Zhou Guanyu.
