Qatar's sovereign wealth fund is set to become a dominant force in the Audi Formula 1 team, with its stake expected to grow to over 50 percent.
The Qatar Investment Authority (QIA) used the occasion of the Qatar Grand Prix to announce its acquisition of a "significant minority stake" in the Sauber team, which will officially become Audi in 2026.
According to La Gazzetta dello Sport, the initial stake is approximately 30 percent, with the deal subject to regulatory approval. Over time, Qatar's investment is expected to exceed 50 percent, potentially reaching a valuation of over a billion dollars.
"It is the third state with a stake in Formula 1 after Bahrain-McLaren and Saudi Arabia-Aston Martin," the Italian newspaper reported.
The deal comes as a financial relief for Audi, whose parent company Volkswagen is grappling with one of its worst financial crises in decades.
Audi CEO Gernot Dollner described the partnership as a significant milestone.
"We have decided to adopt a broader approach. The involvement of such an important partner represents a milestone for our journey in Formula 1," Dollner said.
Audi F1 boss Mattia Binotto echoed the sentiment, saying the investment will provide crucial resources to strengthen the team's competitiveness.
"This news is a great boost for our plans," Binotto said. "It will certainly give us the opportunity to improve our infrastructure and the personnel at our disposal, but the greatest satisfaction is linked to the fact that we are achieving the objectives we have set ourselves."
Currently, Qatar owns 17 percent of Volkswagen, adding to the strategic synergy between the two entities.
Former Mercedes F1 boss Norbert Haug expressed confidence in Audi's long-term prospects in the sport, citing Qatar's involvement as a key factor.
"I think that by 2030 at the latest, Audi should be able to compete for victories on a regular basis," Haug told DPA. "I absolutely trust them to do this and applaud their courage to show their true colours in the premier class of motorsport—the only one that enjoys real global resonance."
When questioned about Audi-Sauber's current struggles—being the only team in 2024 without a single point—Haug remained optimistic.
"Audi is not getting into Formula 1 to be at the back," he said. "They are doing this to prove to the world that Audi will become a major power in Formula 1."
