F1 team accused of BILLION DOLLAR mistake as struggles emerge

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F1 team accused of BILLION DOLLAR mistake as struggles emerge

The news comes just weeks before the conclusion of the 2024 season

By Kevin McKenna.

Thursday 14 November 2024 18:00

A Formula 1 team have been accused of making a massive miscalculation about their financial needs by a former driver.

Audi will take over the Sauber team in 2026 to enter the sport as a works team, and have already had their fingerprints all over a number of their decisions in recent months.

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Their driver lineup is now finally complete, following the news that F2 racer Gabriel Bortoleto has agreed a deal to team up with veteran Nico Hulkenberg.

The pair will race for Sauber next season before the team make the transition the following year, but will have their work cut out to deliver results after what has been a dismal 2024.

Gabriel Bortoleto will partner Nico Hulkenberg at Sauber next season

Audi chief technical officer Mattia Binotto is confident the team will be ready to compete

Audi project hits stumbling block

There are grounds for optimism going forward, with former Ferrari boss Mattia Binotto and Red Bull sporting director Jonathan Wheatley recently added to the backroom team, but ex-F1 driver Ralf Schumacher is concerned about how the project is shaping up.

Speaking to Sky Germany, the six-time race winner discussed how financial constraints have had a major impact on their progress, and will continue to do so for the forseeable future.

Ralf Schumacher has voiced his concerns over the Audi project

“Things just aren’t going smoothly," the German said. "There are already personnel changes before they’ve even begun.

"At Sauber at the moment, they’re really fighting at the back of the field, and now, of course, with the economic disaster currently happening in Germany, jobs are under debate, profits are collapsing.

"This has led to the point where Audi has slightly miscalculated the whole project - unfortunately, it appears this is around a billion. Looking for an investor obviously makes sense because, clearly, Formula 1 is a good investment.

"All companies are currently earning a lot of money, so maybe it should be looked at separately. But there is still a large capital requirement, and bringing on board a partner from Qatar, who is already involved in the group, makes a lot of sense.”

Nico Hulkenberg Ralf Schumacher Gabriel Bortoleto Jonathan Wheatley Mattia Binotto