P1racenews AI automatic summary:
Audi is set to join the F1 grid in 2026, but it has sold part of its team to a sovereign wealth fund.
Audi has sold a partial stake in its Formula 1 team to the Qatar sovereign wealth fund, the Qatar Investment Authority (QIA). The QIA has acquired around 25% of Sauber Motorsport, which will transform into the Audi works team for the 2026 season. Audi had initially planned to purchase 100% of Sauber Motorsport before sharing ownership with an external party. QIA, which already holds 17% of Volkswagen’s shares, is in discussions with the VW Group for a larger equity share. The partnership with QIA comes as the auto industry faces challenges; the deal is seen as a strategic move to boost resources. The CEO of Audi, Gernot Dollner, expressed confidence in the partnership with QIA, emphasizing shared goals and the importance of the collaboration in advancing their Formula 1 project. Mohammed Al-Sowaidi, the CEO of QIA, praised Audi’s vision for the team and highlighted the investment potential in Formula 1, underlining the global appeal of the sport as an entertainment platform. The agreement is pending customary regulatory approvals, and Audi hasn’t ruled out the possibility of seeking additional outside investments beyond QIA in the future.
