Audi is to sell a stake in its Formula 1 entry to Qatar’s sovereign wealth fund, QIA.
A statement from the German car company said the Gulf state would buy a “significant minority” in the team, which is entering F1 in 2026.
The deal will be completed next year, after Audi has taken full ownership of the Sauber team that is the basis for its entry.
Qatar is the third largest shareholder in the Volkswagen Group, Audi’s parent company.
A statement from Audi said Qatar’s investment would “provide a substantial capital injection and pave the way for increasing infrastructure and team buildout, positioning the team for long-term success in Formula 1”.
The deal is said not to be related to financial problems being suffered by the wider Audi company.
In November, Audi reported a 91% slump in earnings on the back of Chinese sales collapsing, amid a 42% drop in profits for VW.
Audi chief executive officer Gernot Dollner said: “The investment by QIA reflects the trust and confidence the Audi F1 Project has already garnered, underscoring unwavering commitment of Audi to the initiative.
“This additional capital will accelerate the team’s growth and is yet another milestone on our long-term strategy.”
Mohammed Al-Sowaidi, the chief executive officer of QIA, said: “As a long-standing investor in the Volkswagen Group, we believe in Audi’s vision and direction when entering F1 and our investment will support the realisation of this goal.
“QIA believes that Formula 1 is a sport with significant untapped investment potential.”
