P1racenews AI automatic summary:
Audi confirms takeover of Sauber; appoints Seidl as F1 CEO
Audi has approved plans for a full takeover of the Sauber team’s shareholding from Islero Investments AG, ahead of the initially expected timeline of 2026. Oliver Hoffmann, former Audi chief development officer, has been appointed chairman of the board of directors of Sauber companies, showcasing Audi’s further commitment to the project. Andreas Seidl has been announced as CEO of the Audi team, responsible for the F1 project’s implementation and overall management. Audi Chairman of the Supervisory Board, Manfred Doss, emphasized the gravity of the company’s venture into Formula 1, acknowledging the financial and sporting challenges ahead. The decision to expedite the takeover of Sauber and reorganize the management structure highlights Audi’s determination to enter F1 strongly in 2026. With Hoffmann and Seidl at the helm, Audi aims to leverage its motorsport expertise and resources to achieve success in Formula 1.
