Audi has announced plans to join the F1 grid in 2022. The German manufacturer has agreed to increase its initial 25% purchase of Sauber shares to 100%.Watch Saudi Arabia GP qualifying on Sky Sports F1 from 5pm on Friday.Races Saturday at 5 p.m.
15:01, UK, Friday 8 March 2024
Audi has reaffirmed its commitment to join the F1 grid in 2026 by agreeing to fully acquire the Sauber team.
Audi announced in August 2022 that it plans to enter the sport as a works team starting in 2026, and six months later to take over a 25 percent stake in current member Sauber.
There was initial speculation that Audi would eventually increase its stake to 75%, but the German company announced on Friday that it had agreed to take full ownership of the team.
Oliver Hoffmann, Audi's head of technology development, has been appointed as team representative on the company's board of directors, placing him above CEO Andreas Seidl, who will take over his role at Sauber.
“We are confident that by consolidating our responsibilities and acquiring over 100% of the Sauber Group, we will be able to further accelerate our preparations for the launch in 2026,” said Hoffmann.
“We are delighted to have secured the services of Andreas Seidl as Audi F1 Team CEO. He is perfectly suited to our ambitious plans. Thanks to his extensive experience, he will continue to make a great contribution to Audi's F1 project. ”
The complete acquisition was agreed with current major shareholder Islero Investments AG and approved by Audi's board of directors, Audi said in a statement.
Friday's announcement ended speculation that Audi would withdraw from its involvement in F1 due to a change at the top of the company.
The German company also reaffirmed its intention to participate as a works team and confirmed that the power unit will be developed at its Neuberg facility.
Seidl, a former McLaren team boss, will join Sauber in January 2023 and, as expected, remain as the team's “face”.
“appreciate [Audi chief executive] I would like to thank Gernot Dorner and Oliver Hoffmann for their trust in me and as CEO of the Audi F1 Team, I look forward to leading Audi into F1 with a highly motivated team,” Seidl said.
“We have a clear roadmap in which we want to be more competitive both in Hinwil and in Neuburg. We have ambitious goals and their realization is underway, with the complete acquisition of Sauber by Audi AG. It will accelerate further.”
Saudi Arabian GP live schedule on Sky Sports F1
Friday, March 8th
- 4:10pm: Saudi Arabia GP qualifying build-up
- 5pm: Saudi Arabian GP Qualifying
Saturday, March 9th
- 12pm: F1 Academy Race 2
- 1:20pm: F2 Feature Race
- 3:30pm: Saudi GP Build-up: Grand Prix Saturday
- 5pm: Saudi Arabian Grand Prix
- 7pm: Saudi Arabian Grand Prix reaction: checkered flag
- 9:30pm: Saudi Arabia GP Highlights
Watch the second round of the new F1 season, the Saudi Arabian Grand Prix, live on Sky Sports F1 next week, with qualifying on Friday and racing on Saturday at 5pm. Stream every F1 race and more with a NOW Sports Month membership for just £21 a month for 12 months
The heavyweight showdown between Anthony Joshua and Francis Ngannou will be broadcast live on Sky Sports Box Office on Friday, March 8, with the main event scheduled to take place around 11pm. Book Joshua vs. Ngannou now!
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