Audi to sell a stake of F1 team to Qatar fund

Audi is to waste a liking successful its Formula 1 introduction to Qatar’s sovereign wealthiness fund, QIA.

A connection from the German car institution said the Gulf authorities would bargain a “significant minority” successful the team, which is entering F1 successful 2026.

The woody will beryllium completed adjacent year, aft Audi has taken afloat ownership of the Sauber squad that is the ground for its entry.

Qatar is the 3rd largest shareholder successful the Volkswagen Group, Audi’s genitor company.

A connection from Audi said Qatar’s finance would “provide a important superior injection and pave the measurement for expanding infrastructure and squad buildout, positioning the squad for semipermanent occurrence successful Formula 1”.

The woody is said not to beryllium related to financial problems being suffered by the wider Audi company.

In November, Audi reported a 91% slump successful net connected the backmost of Chinese income collapsing, amid a 42% driblet successful profits for VW.

Audi main executive serviceman Gernot Dollner said: “The finance by QIA reflects the spot and assurance the Audi F1 Project has already garnered, underscoring unwavering committedness of Audi to the initiative.

“This further superior will accelerate the team’s maturation and is yet different milestone connected our semipermanent strategy.”

Mohammed Al-Sowaidi, the main executive serviceman of QIA, said: “As a long-standing investor successful the Volkswagen Group, we judge successful Audi’s imagination and guidance erstwhile entering F1 and our finance will support the realisation of this goal.

“QIA believes that Formula 1 is simply a athletics pinch important untapped finance potential.”