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Qatar Investment Authority has announced it will be a ‘long-term investor and partner’ to Audi’s F1 team from 2026.
Published On 29 Nov 2024
The sovereign wealth fund of Qatar is acquiring a “significant minority stake” in what will become Audi’s Formula 1 works team from 2026, in a deal announced Friday before the Qatar Grand Prix.
A joint statement said the Qatar Investment Authority will be “a long-term investor and partner” and provide “a substantial capital injection” that will help the team expand its infrastructure.
The team is currently competing as Sauber and will be rebranded as the Audi works outfit for 2026 after it reached an agreement for a full takeover earlier this year.
“This additional capital will accelerate the team’s growth and is yet another milestone on our long-term strategy,” Audi chief executive Gernot Dollner said in the joint statement.
Qatar Investment Authority has agreed to acquire a significant minority stake in Sauber, ahead of the squad becoming Audi’s factory team in 2026 📝#F1 #QatarGPhttps://t.co/SNEfQnC7eB
— Formula 1 (@F1) November 29, 2024
Qatar is already an investor in the Volkswagen Group, of which Audi is a part. “QIA believes that Formula 1 is a sport with significant untapped investment potential,” QIA chief executive Mohammed Saif al-Sowaidi said.
“The increasing commercialisation of professional sports as an entertainment offering globally, and the increasingly global popularity of Formula 1, has made for an exciting opportunity for our first major motorsports investment.”
Sauber is changing both its drivers for 2025, as Nico Hulkenberg and rookie Gabriel Bortoleto arrive to replace Valtteri Bottas and Zhou Guanyu.
Source
:
Al Jazeera and news agencies
