P1racenews AI automatic summary:
Amid speculation that it was getting cold feet, reports suggest Audi is set to conclude proceedings regarding its majority takeover
Audi’s F1 project was announced in the summer of 2022, with Sauber being the foundation of its works team from 2026. Audi purchased a 25% stake in the Hinwil-based team ahead of the 2023 season. There are reports that Audi may take over 100% ownership from the current owner Finn Rausing. Audi board member Oliver Hoffmann is set to become the Sauber Director, with CEO Andreas Seidl reporting to him. Despite initial speculations, both Audi and Sauber remain committed to the F1 project, intended for a 2026 entry. Audi’s takeover of Sauber is progressing towards its final stages, with Seidl meeting the team in Saudi Arabia recently. Audi will enter Formula 1 in 2026, developing a new power unit and conducting test drives next year in preparation for their debut.
