F1 team announce TAKEOVER as end of an era approaches

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F1 team announce TAKEOVER as end of an era approaches

The F1 team will officially depart the sport after over 30 years

Tyler Rowlinson

Monday 11 March 2024 03:00

Audi have confirmed that they will take 100% ownership of Sauber F1 Team after purchasing the remaining three quarters of the company on Friday.

In August 2022, the German manufacturer purchased 25% of the outfit and announced their intention to join the Formula 1 grid from 2026.

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On Friday, Audi completed their acquisition of the other 75 percent and will take complete ownership of the team.

This officially marks the end of Sauber in F1, who have had a long and illustrious career in the sport having debuted in 1993.

Audi have officially taken over 100 percent of Sauber

The Swiss team will leave the sport after over 30 years

Audi take over Sauber

Sauber CEO Andreas Siedl will remain in his post with the team as ‘the face’ of the operation, while Audi’s head of technical development Oliver Hoffman will be above Siedl as the company’s board’s general representative for the team.

In an official statement, Hoffman said: "I am convinced that by bundling responsibilities and taking over 100 per cent of Sauber Group, we will further accelerate our preparations for the launch in 2026.”

Andreas Seidl will remain as CEO of the team

"I am pleased we were able to secure the services of Andreas Seidl as Audi F1 Team CEO. He is exactly the right man for our ambitious plan. Thanks to his broad experience from leadership roles on the manufacturer and Formula 1 team side, he will make a significant contribution to Audi's Formula 1 project."

Seidl, who joined Sauber from McLaren in 2023, added: "I thank [Audi chief executive] Gernot Dollner and Oliver Hoffmann for their trust and am looking forward to leading Audi into Formula 1 together with a highly-motivated team as CEO of the Audi F1 Team.”

"We have a clear roadmap for how we want to become competitive in Hinwil as well as in Neuburg. We have ambitious goals. Realisation of them is in progress and will be further accelerated through the complete takeover of Sauber by AUDI AG."

Lewis Hamilton Mercedes Formula 1 Audi Sauber F1 team