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Home Tennis

Qatar Investment Authority acquires ‘significant’ stake in Audi F1

November 30, 2024
in Tennis
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Qatar Investment Authority acquires ‘significant’ stake in Audi F1


The 2024 System 1 season is winding down, however plans are already in movement for not simply the 2025 season, however the 2026 marketing campaign.

That season will deliver monumental change to the game. Not solely will F1 implement a brand new sequence of technical laws for the 2026 season, however the sport may even see enlargement to 11 groups — with the newly-formed Cadillac-Common Motors crew becoming a member of the grid — in addition to Audi, at present the Sauber crew, taking on as a works operation.

Now there’s extra information on that entrance.

Sauber Holding AG, the long run F1 manufacturing unit crew of Audi, introduced on Friday that the Qatar Funding Authority (QIA), the sovereign wealth fund of the State of Qatar, has agreed to “purchase a major minority stake” within the Sauber Holding AG.

In response to the announcement, the QIA’s funding will “present a considerable capital injection and pave the way in which for rising infrastructure and crew buildout, positioning the crew for long-term success in System 1. The funding is in line with QIA’s deal with investments with long-term progress potential.”

The transfer is the newest aggressive determination introduced by the long run Audi F1 venture. In the course of the summer time the crew introduced that Mattia Binotto, previously the Staff Principal at Ferrari, was becoming a member of as each the Chief Expertise Officer and the Chief Working Officer of Audi F1. It was additionally introduced that Jonathan Wheatley, the longtime Sporting Director at Pink Bull, can be becoming a member of the crew subsequent yr as Staff Principal.

Audi introduced their drivers for subsequent season, a pairing of veteran Nico Hülkenberg and younger driver Gabriel Bortoleto.

Now the venture has the backing of the QIA, which in keeping with Gernot Döllner, the CEO of Audi, will “speed up the crew’s progress” and result in elevated hiring and infrastructure enhancements.

“The funding by QIA displays the belief and confidence the Audi F1 Venture has already garnered, underscoring unwavering dedication of Audi to the initiative,” mentioned Döllner. “This extra capital will speed up the crew’s progress and is yet one more milestone on our long-term technique. QIA’s involvement additional energizes the devoted efforts at each the Hinwil and Neuburg services as they work in the direction of the entry of Audi in 2026.”

Mohammed Al-Sowaidi, the CEO of the QIA, pointed to the “more and more world reputation of System 1” as a motive for the transfer.

“Audi is a premium companion of alternative with a wealthy motorsport legacy. As a long-standing investor within the Volkswagen Group, we imagine in Audi’s imaginative and prescient and route when getting into System 1 and our funding will assist the conclusion of this purpose,” mentioned Al-Sowaidi. “QIA believes that System 1 is a sport with vital untapped funding potential. The rising commercialization {of professional} sports activities as an leisure providing globally, and the more and more world reputation of System 1, has made for an thrilling alternative for our first main motorsports funding.”

The crew will compete as Sauber for one remaining season in 2025, earlier than the swap to Audi.



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Tags: acquiresAudiauthoritycomfformula-onefront-pageininvestmentQatarsbnationsignificantStake
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