Audi has shut down recent rumours suggesting its Formula 1 team was up for sale to Qatar’s QIA sovereign wealth fund, with an Audi F1 spokesperson firmly stating, “We do not engage in speculation. The team is not for sale.” The clarification, delivered to AGBI on Tuesday, underscores Audi’s commitment to its F1 ambitions, despite online speculation of potential interest from Qatar.
The German automaker’s rebuttal comes amid increased investment by Gulf nations in motorsport. Qatar already has a significant stake in Volkswagen (Audi’s parent company) and invests heavily in global sports, notably holding a 70% stake in French football club PSG through its Qatar Sports Investments. Elsewhere in the region, Saudi Arabia’s Public Investment Fund (PIF) owns a 20.5% stake in Aston Martin, while Bahrain’s Mumtalakat sovereign fund has held a major interest in McLaren Group since 2007. Most recently, Abu Dhabi’s CYVN Holdings entered a non-binding agreement to buy McLaren’s automotive business from Mumtalakat, adding to the Gulf’s footprint in high-profile racing.
In addition, Abu Dhabi’s AI firm G42 partnered last year with the Mercedes-AMG Petronas F1 team to provide advanced data analytics, showing the region’s growing influence in Formula 1’s technology ecosystem.
Audi’s F1 project, however, is not up for sale. The spokesperson emphasized Audi’s long-term strategy, stating, “We are firmly convinced that Formula 1 and Audi are a perfect fit. Even though it is an ambitious project that takes time, we believe that we can demonstrate innovative strength and boost the Audi brand in the premier class of motorsport.”
Audi remains committed to developing its F1 team, aiming to leverage the sport as a platform to elevate its brand and showcase its technological expertise on the global stage.