Audi appears to be on the verge of selling a portion of the Sauber Formula 1 team to Qatar. An official announcement may be forthcoming even before the Qatar Grand Prix. Audi had previously denied such a deal was in the works, but due to a financial crisis within Volkswagen AG, it seems likely that Audi will accept a new capital injection from Qatar. Qatar, with Qatar Airways, already has a significant stake in Formula 1.
Initially, it was reported that Audi would take over one hundred percent of Sauber from the previous owner, Finn Rausing. The sale price was estimated at around 650 million euros. However, due to financial difficulties at parent company Volkswagen, this situation may change. With potential factory closures and significant job losses on the horizon, Audi may be forced to reconsider its Formula 1 plans.
New Name?
Reportedly, Qatar, which is already a major sponsor of Formula 1 through state-owned Qatar Airways, is willing to invest up to 1 billion euros in Audi/Sauber. This not only aids Audi in securing a factory team in the premier class, but it also aligns with Qatar’s ambition to play an increasingly larger role in the sport. The German Autosport reports that an official announcement could be made before the Qatar Grand Prix.
However, the investment could have larger implications than previously thought. The team’s name may also be changed. Instead of becoming the Audi team, Sauber could be renamed after a Qatari state-owned company. For this to happen, the Germans would need to sell more than fifty percent of the shares in Sauber AG.
