Qatar Investment Authority Acquires Stake in Sauber

    Nov 29th, 2024

    Summary

    The Qatar Investment Authority (QIA) has announced its acquisition of a significant minority stake in Sauber Holding AG, which is set to transform into Audi’s factory team in 2026. This strategic investment is aimed at bolstering the team's growth and development within Formula 1, aligning with QIA's long-term investment goals. Recent personnel changes at the team include the appointment of experienced driver Nico Hulkenberg and former Ferrari team principal Mattia Binotto. According to QIA's CEO, this move underscores confidence in Audi's vision for the sport and acknowledges Formula 1's robust commercial potential.

    As part of the agreement, which is pending regulatory approvals, Audi aims to use this investment to enhance infrastructure and support recruitment efforts in preparation for their entry into F1. Despite Audi reportedly facing financial challenges, the company emphasizes that this partnership with QIA is not connected to its current earnings situation. With completion of the deal expected by the end of the second quarter in 2025, the collaboration is viewed as a significant step forward, promising substantial support for Audi's ambitions in Formula 1.

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