Qatar’s leading state-backed fund will on Friday confirm the purchase of a large minority stake in the Audi Formula One (F1) team, marking the latest major global sporting investment by a sovereign investor.
Sky News has learnt that the Qatar Investment Authority (QIA) has struck a deal to acquire roughly 30% of the F1 outfit, which currently races as Sauber but which will be rebranded under the Audi name in time for the 2026 season.
F1 insiders said the deal would be officially announced on Friday, ahead of this weekend’s Grand Prix in the tiny Gulf state.
The investment is expected to be worth hundreds of millions of dollars, they added.
The transaction will underline the extent to which wealthy Arab nations have poured significant sums into the world’s most-watched sports teams and leagues.
Qatar Sports Investments (QSI) owns Paris Saint-Germain, the Ligue 1 football club, while Abu Dhabi investors own a controlling stake in Manchester City Football Club and Saudi Arabia’s sovereign wealth fund owns the breakaway golf league LIV as well as the Premier League club Newcastle United.
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Middle Eastern funds already have a significant presence in motorsport, with Bahrain’s state-backed Mumtalakat holding a big stake in the parent company of McLaren Racing, which owns the eponymous Formula One team.
The deal with Volkswagen-owned Audi marks Qatar’s first meaningful investment in elite motorsport.
Banking sources said that QIA had identified F1 as a target aligned with its approach to seeking deals with long-term growth potential.
They added that Qatar was prepared to back the Audi team with significant financial resources to help transform its performance.
The Kick Sauber Ferrari outfit currently languishes in 10th and last place in the 2024 constructors’ championship.
It is the only team yet to score a point this…
