Saturday, April 13, 2024

Formula 1 team has got a new owner despite rumours

Despite speculation to the contrary, Audi has completed the takeover of Sauber F1, which from 2026 will be the Formula 1 field's newest factory team.

Ever since Audi announced in 2022 that it entered Formula 1 by making Sauber F1 a factory team, rumors have swirled about the opposite.

Only very few apparently believe that Audi is serious about the brand's participation in Formula 1. But now the Germans have come a step closer.

Ahead of the Saudi Arabian grand prix this weekend, the factory from Ingolstadt announced that it has acquired the rest of the Swiss Sauber team.

The news was confirmed by Sauber CEO Andreas Seidl at a press conference on Wednesday.

READ ALSO: Danish ban causes demand to increase by 700 percent

This is written by the German Auto Bild .

There have long been rumors that the top management at Audi abhors the idea of Formula 1, after the brand's former managing director Markus Duesmann was fired in the summer of 2023.

Prior to this week's takeover, however, it was already clear that Audi 'only' takes 75 percent of the company. The last 25 percent still belongs to the Swedish Tetra Pak heir Finn Rausing.

Whether the VAG brand is also interested in the last percentages did not come out during the press conference, which Andreas Seidl took part in.

Read more news from and about Formula 1 right here!

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