The sovereign wealth fund of the Emirate of Qatar is increasing Audi Formula 1 team a. The Qatar Investment Authority (QIA) has made a binding commitment to take over a significant minority stake, it said Volkswagen-Daughter on Friday.
The car manufacturer did not provide any information about the extent of the investment. According to an insider, the QIA is taking over almost a third of Sauber Holding, the future Audi works team that wants to officially compete in the highest motorsport class from 2026.
“QIA’s investment reflects the trust that the Audi F1 project has already gained and underlines Audi’s commitment to Formula 1,” said Audi boss Gernot Döllner (55). “The additional capital will accelerate the team’s growth and is another milestone in our long-term strategy.”
No statement about the purchase price
Audi did not comment on how much money the fund is paying for its share. In media reports, citing insiders, there was talk of a three-digit million amount.
Audi had been looking for a strategic partner for its Formula 1 project for a long time, said Döllner. The fact that an investor is now coming in has nothing to do with it current austerity measures at Volkswagen to do. The discussions with QIA began exactly a year ago, when a delegation from Qatar visited the Audi Motorsport Center in Neuburg for the first time on November 29, 2023.
In addition to the fund from Qatar, other investors have also expressed interest in getting involved. The decisive factor for the award was that Qatar is one of the largest Volkswagen investors with a share of 17 percent.
Audi took over the Sauber team completely in March, thereby creating the conditions for Qatar to join the team.