Audi is set to sell a stake in its upcoming Formula 1 entry to Qatar’s sovereign wealth fund, QIA, marking a significant step in the team’s preparations for its F1 debut in 2026. According to a statement from Audi, Qatar will acquire a “significant minority” share in the team, which is based on the Sauber team that Audi will fully own by next year. This deal, expected to be finalized in 2024, will provide vital financial support for the team’s entry into F1, including capital to enhance infrastructure and team development, positioning Audi’s F1 project for long-term success.
Qatar’s involvement is notable, as the Gulf nation is already the third-largest shareholder in the Volkswagen Group, Audi’s parent company. Despite Audi’s reported financial struggles, including a 91% drop in earnings in November due to poor sales in China and a broader 42% profit fall for Volkswagen, the company insists the deal is not a response to these financial challenges. Audi has emphasized that the investment will not only boost the team’s resources but also affirm Audi’s commitment to Formula 1 and its long-term strategy for success in the sport.
Audi’s CEO, Gernot Dollner, commented, “The investment by QIA reflects the trust and confidence the Audi F1 Project has already garnered, underscoring unwavering commitment of Audi to the initiative.” He added that the additional capital would accelerate the team’s development. Mohammed Al-Sowaidi, CEO of QIA, also voiced strong support for the investment, stating, “As a long-standing investor in the Volkswagen Group, we believe in Audi’s vision and direction when entering F1, and our investment will support the realization of this goal.”
Al-Sowaidi further noted that QIA sees Formula 1 as a sport with significant untapped investment potential, signaling the fund’s long-term belief in the strategic value of Audi’s F1 ambitions. This move strengthens Audi’s path into Formula 1, with a major financial backer from one of the world’s wealthiest states.
