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Audi’s Formula 1 project have issued an official statement regarding reports they are set to sell a stake in the team following a ‘billion’ dollar
Audi is gearing up for a major entry into Formula 1 in 2026 when it will fully take over the Sauber team, marking the German automaker’s long-awaited debut on the grid. As part of their preparations, Audi has made a series of strategic moves, including the signing of experienced driver Nico Hülkenberg and promising Brazilian talent Gabriel Bortoleto. Along with these driver announcements, Audi has secured key operational appointments, with Mattia Binotto, the former Ferrari team principal, set to take on the role of Chief Technical Officer (CTO) and Chief Operating Officer (COO), while Jonathan Wheatley, previously of Red Bull Racing, will join as team principal starting in 2025.
However, recent developments have cast a shadow over Audi’s ambitious entry into Formula 1. Reports surfaced last week suggesting that Audi might be looking to sell a stake in the team to the Qatari sovereign wealth fund. The deal, according to the rumors, could be completed as soon as next week. This news has led to a flurry of speculation about Audi’s financial stability and its ability to successfully enter the highly competitive and expensive world of Formula 1.
Ralf Schumacher, a former Formula 1 driver and now a pundit for Sky Germany, weighed in on the situation, claiming that Audi’s decision to enter the sport may have been made without fully accounting for the enormous financial commitments required. Schumacher pointed out that Audi’s plans for Sauber and its Formula 1 project could be facing serious challenges, including personnel changes and financial strain.
“Things just aren’t going smoothly,” Schumacher said, highlighting the difficulties the team is encountering even before they have officially begun. He noted that Sauber, the current team that Audi will take over, has been struggling towards the back of the grid for some time. Schumacher also linked Audi’s challenges to the broader economic difficulties currently affecting Germany, which have led to job cuts and collapsing profits for many companies. In his view, Audi may have underestimated the costs involved in entering Formula 1, estimating the shortfall at around one billion euros. These financial strains, he suggested, could be prompting Audi to seek external investment or even consider selling part of the team to secure the necessary resources.
The speculation about a potential stake sale to the Qatari fund has only added fuel to the fire. Qatar’s sovereign wealth fund has a history of investing in major sports properties, including football clubs and various global sporting events. A partnership with the Qatari fund could provide the financial backing Audi needs to compete at the highest level in Formula 1, but it also raises questions about the long-term direction of Audi’s Formula 1 project and whether it would retain full control over the team.
In response to these rumors and to clarify the situation, Audi issued a statement through GP Fans, firmly denying that the team was for sale. The automaker reiterated that its Formula 1 project is long-term and remains a core part of its strategic goals. Audi emphasized that the decision to enter Formula 1 had been made over two years ago, with thorough planning and reassessment carried out last year to ensure its viability. The company expressed confidence that Formula 1 is a perfect fit for Audi’s future direction, aligning with the brand’s strategic goals for motorsport and global visibility.
Audi also pointed to recent organizational moves, such as the complete takeover of Sauber and the appointment of key personnel like Binotto and Wheatley, as proof of their commitment to the project. The automaker made it clear that they were not participating in the speculative discussions surrounding the possible sale of a stake in the team, stressing that the team’s future was secure and the entry to F1 would proceed as planned.
Despite Audi’s
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