Audi's entry into Formula 1 may be rescued and bolstered by significant investment from Qatar's sovereign wealth fund, sidestepping the financial challenges currently facing the Volkswagen Group.
Reports this week suggest that Audi, which recently acquired Sauber in a deal valued at 600 million euros, could now sell up to 50% of the Swiss-based F1 team to Qatar, potentially with a title sponsorship from Qatar Airways. The rumored price for the partial stake is estimated at 1 billion euros.
"Now Audi is coming (to Sauber)," former F1 chief Bernie Ecclestone told Blick newspaper, "but in the current situation, the Germans are perhaps not even unhappy that some people from Qatar are showing interest in the new project and want to get involved."
Sources indicate that Audi F1's partnership with Qatar, which already holds a significant stake in Volkswagen, could be officially announced at the upcoming Qatar GP.
"According to several media reports, the sheikhs are expected to invest up to 1 billion euros," reported German newspaper Bild, adding that a majority ownership could eventually lead to a team name change.
Although Audi has yet to comment on the matter, La Gazzetta dello Sport reports that Qatar's initial stake would likely be a minority investment without major changes to the team's branding or management.
"But it is not excluded that in the future the fund will aim for the majority of the team, as well as the (Audi) engine factory in Neuberg, Germany," the Italian newspaper added. body check tags ::
