The Qatar Funding Authority (QIA) has acquired a “important minority stake” in Sauber Holding AG, the long run Audi Formulation 1 group.
QIA is already a stakeholder within the Volkswagen Group – Audi’s dad or mum firm – and can present a considerable capital injection that Audi stated will enable the group to extend infrastructure and recruitment. The deal shall be full by the top of the second quarter in 2025, as soon as Audi has accomplished its 100% takeover of Sauber in January. QIA will sit on the board.
“The funding by QIA displays the belief and confidence the Audi F1 Challenge has already garnered, underscoring unwavering dedication of Audi to the initiative,” Audi CEO Gernot Döllner stated. “This extra capital will speed up the group’s development and is one more milestone on our long-term technique. QIA’s involvement additional energizes the devoted efforts at each the Hinwil and Neuburg services as they work in the direction of the entry of Audi in 2026.”
Döllner additionally denied there was any risk to the mission if Audi had not secured outdoors funding because it continues to work on its arrival in simply over a 12 months’s time.
“No, I wouldn’t say in peril, however once we reviewed it and made the plan to assume larger, bringing in a accomplice was a part of that technique,” he stated. “So and not using a accomplice, I’d not have been in a position to set the mission up as we did it. The choice was taken one 12 months in the past.
“Now, step-by-step, we first took over 100%, then introduced in Mattia [Binotto] and Jonathan [Wheatley], who will be part of subsequent 12 months. So step-by-step, the plan turns into seen.
“What we do right this moment, bringing on this sturdy accomplice, is a mannequin a variety of different groups have. And it’s, from our perspective, a needed step to change into one of many high groups sooner or later.”
Audi’s announcement follows information surrounding a Basic Motors entry that entails billionaire Mark Walter. No further companions have been introduced for that mission at this level, however Döllner doesn’t imagine it could be not possible for a automotive producer to go it alone in F1.
“I wouldn’t say so,” he stated. “An OEM may go it by himself, however I’d say it’s a extra clever solution to do it with sturdy companions, and should you have a look at the opposite groups, that’s fairly a hit issue to go in a set-up that we’ve additionally chosen right this moment.
“No plans but [for further partners]. It’s an possibility we do have, however we haven’t began the method. For right this moment, we’re actually joyful to have, with QIA, this sturdy accomplice on board.
