Even before turning its first lap in Formula 1, Audi has
reportedly agreed to sell a minor stake in the F1 team to the Qatar sovereign
wealth fund.
Having purchased the Sauber team, Audi will
rebrand the Formula 1 in 2026 when the German manufacturer takes over as a full
works team with the cars powered by an Audi engine.
Audi F1 have ‘reached an agreement’ to sell a minority
stake in the F1 team
According to Auto Motor und Sport, the Qatar
sovereign wealth fund, which already owns shares in Volkswagen and Porsche,
have ‘already reached an agreement’ with Audi to acquire ‘a minority stake’ in
the Formula 1 team.
The investment raised would go towards expanding the
team’s Hinwil facilities, both in terms of infrastructure and also personnel
with Audi facing a bigger wage bill than its F1 rivals.
That’s also an issue when it comes to the budget cap,
although Audi has already been given the go-ahead to operate at a higher
ceiling in F1 2026 with the FIA granting leeway to teams operating in countries
with higher salaries.
That applies to Audi, who will be based in Hinwil in
Switzerland where salaries are as much as 40 per cent higher than in England or
Italy where all the other teams are based.
As yet the exact figure Audi will be allowed has not been
revealed.
The Qatar investment means Audi can draw on those funds,
rather than tap into the budget from Germany.
This is by no means the first step towards selling the F1
team with Audi reiterating its commitment earlier this year.
Managing Director Gernot Döllner said: “The decision was well prepared two and a half years ago and re-evaluated last year. We are firmly convinced that Formula 1 and Audi are a perfect match. It is in line with our strategy.”
