Audi announce NINE-FIGURE sale of team stake to state group

BP and Castrol partner with Audi — Photo: © IMAGO

Audi F1 News

Audi announce NINE-FIGURE sale of team stake to state group

Audi have sold a reported 30% stake of their team

Originally written by Sam Cook. This version is a translation.

Friday 29 November 2024 22:05

Audi have announced the sale of a significant stake in their upcoming Formula 1 team.

The German manufacturer will take over the Sauber team in time for the 2026 season, in a long-awaited move.

Article continues under video

Audi have already announced a number of huge signings, including Jonathan Wheatley as their team principal from 2026, Mattia Binotto as their chief technical officer and Nico Hulkenberg and Gabriel Bortoleto as their drivers to take them into a new era.

Now, it has been announced that the brand have sold a minority stake in their team before even entering the F1 grid, with the Qatar Investment Authority buying a reported 30% of the team in a deal thought to be worth hundreds of millions of dollars.

Mattia Binotto is the chief technical officer at Sauber/Audi

Audi sell stake in team

F1 is racing in the country for the third time this weekend, with the final sprint weekend and penultimate grand prix of the season taking place at the Lusail International Circuit.

Sauber are hoping for a strong final two weekends to try and lift themselves off the bottom of the constructors' championship standings, with current drivers Valtteri Bottas and Zhou Guanyu having not scored a single point throughout 2024.

Speaking with Sky Germany during the Qatar GP weekend, former Ferrari team principal-turned Audi boss Binotto said: "Today was a very important day for us. It is a great agreement, a partnership with Qatar Investment Authority.

Both Valtteri Bottas and Zhou Guanyu have been axed ahead of 2025

"It has been planned for a very long time. When I joined the team, I already knew about these talks because over a year ago, Audi checked over the entire project. We tried to think big and if you know what is needed, then such a partnership was necessary.

"It is a capital injection for the team. It is important for our entire journey. We know that there is a lot to do. It is a big task. There is a lot to invest, a lot to spend. Such a capital injection is very important for us.

"This partnership is really a long-term partnership," Binotto continued. "I would even say an investment of passion. Both Audi and Qatar Authority share this common vision.

"The agreement of today, the partnership of today, you agree that it is a long-term partnership, a long-term investment. Audi is not here for a short time, but with a long-term vision and we know that our journey is a long journey.

"We aim for the championship in 2030, but not before that. It takes time to become successful and to build a solid foundation. But again, you need big investments, big partners. And today's signature is an important step in this direction."

Nico Hulkenberg Audi Sauber Gabriel Bortoleto Jonathan Wheatley Mattia Binotto