JUST IN: Audi F1 issue official statement over team sale…Read More
Audi F1 Responds to Reports of Team Sale After Financial Miscalculation
Audi’s highly anticipated entry into Formula 1 has attracted attention amid rumors that they may be selling a stake in their team following reports of a significant financial miscalculation. Audi, who are set to fully take over the Sauber team by 2026, issued an official statement addressing these claims.
The German automaker has been making major strides in preparation for their debut on the Formula 1 grid. They have secured the services of veteran driver Nico Hulkenberg and young talent Gabriel Bortoleto to lead their racing efforts. Alongside these driver signings, Audi has also recruited former Ferrari team principal Mattia Binotto as Chief Technical Officer (CTO) and Chief Operating Officer (COO) as well as Jonathan Wheatley, who is set to take over as team principal next year. These moves signal Audi’s commitment to entering the sport competitively.
However, last week, a bombshell report surfaced, suggesting that Audi was considering selling a portion of the team to the Qatari sovereign wealth fund. It was claimed that the deal, potentially worth billions, could be finalized as early as next week. The speculation stemmed from an alleged financial oversight, with sources suggesting that Audi had underestimated the investment required to compete at the top level of Formula 1.
Former Formula 1 driver and now pundit Ralf Schumacher weighed in on the situation during an appearance on Sky Germany. According to Schumacher, Audi was seeking outside investment due to the company miscalculating the scale of financial commitment necessary for a successful entry into the sport. “Things just aren’t going smoothly,” Schumacher said, noting that personnel changes were already being made before Audi’s official debut. He emphasized that the current situation at Sauber, who are competing near the back of the field, combined with economic difficulties in Germany, has put additional strain on the project. “Audi has slightly miscalculated the whole project—unfortunately, it appears this is around a billion,” Schumacher added.
These reports of financial struggles have fueled speculation about Audi’s long-term commitment to Formula 1. In response to the swirling rumors, Audi issued an official statement to clarify their position. Speaking to GPFans, the team denied any intention of selling a stake in the operation. “Audi’s Formula 1 project is long-term and is not in question,” the statement read. “The decision was well prepared two and a half years ago and reassessed last year. We are firmly convinced that Formula 1 and Audi are a perfect fit. It is in line with our strategy.”
The statement further highlighted Audi’s ongoing plans, reaffirming that their takeover of Sauber, announced in March, remains on track. The appointment of Mattia Binotto and Jonathan Wheatley to key leadership roles is an indication of the company’s determination to succeed in Formula 1, the statement added. Audi also made it clear that they do not engage in or support the rumors currently circulating. “The team is not for sale,” the automaker concluded, shutting down the idea of a partial sale to external investors.
As Audi prepares to enter Formula 1 in 2026, these recent developments suggest that while there may have been challenges along the way, the company remains fully committed to their long-term vision in the sport. With high-profile appointments and driver signings in place, Audi appears to be gearing up for a competitive debut despite the financial speculation surrounding their project.
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