Audi F1 issue official statement over team sale following report of STAGGERING f…read more
Audi’s Formula 1 project has released an official statement addressing widespread rumors regarding the potential sale of a stake in their team, following reports of a staggering financial oversight estimated at around one billion dollars. Audi plans to enter Formula 1 as a full constructor in 2026, taking over the Sauber team, which currently competes on the grid.
Speculation began last week with claims that Audi might sell a portion of the team to the Qatari sovereign wealth fund. According to reports, negotiations are progressing swiftly, and the deal could be finalized as early as next week. This development has raised concerns about the viability of Audi’s F1 project, which was announced with much fanfare as part of the brand’s strategy to establish itself in the premier motorsport category.
Former F1 driver and pundit Ralf Schumacher weighed in on the situation during an interview with Sky Germany. Schumacher suggested that the financial strain stems from Audi significantly underestimating the costs of competing in Formula 1, which is known for its high barriers to entry and substantial operational expenses.
“Things aren’t going smoothly for Audi,” Schumacher stated. “There are already personnel changes, and they haven’t even officially started. Right now, Sauber is struggling at the back of the field, and the economic challenges in Germany only add to the pressure. Jobs are being debated, and profits are shrinking, which has likely compounded Audi’s financial difficulties.”
Schumacher elaborated that the situation has reached a critical point, with the project’s miscalculation reportedly nearing the billion-dollar mark. These financial woes have sparked discussions about whether additional investment is needed to stabilize the venture before Audi’s official entry into the championship.
The Sauber team, which will eventually transform into the Audi F1 team, currently competes under the Alfa Romeo name and has struggled to secure competitive results in recent years. Audi’s ambitious plan to turn Sauber into a championship-contending outfit by 2026 has been met with skepticism, especially in light of these recent reports.
Audi has not confirmed the details of the alleged sale but has stated they remain committed to their Formula 1 program. However, the potential involvement of a new financial partner may be crucial to navigating the complex and costly nature of Formula 1 and ensuring the success of their highly anticipated debut.
