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Headline : Qatar’s sovereign wealth fund takes a stake in Audi’s future F1 team

Read more from the original article on here at www.aljazeera.com.





Tags : #qatars #sovereign #wealth #fund #takes #stake #audis #future #f1 #team


No. of Paragraph 22

The sovereign wealth fund of Qatar is acquiring a “significant minority stake” in what will become Audi’s Formula 1 works team from 2026, in a deal announced Friday before the Qatar Grand Prix.

A joint statement said the Qatar Investment Authority will be “a long-term investor and partner” and provide “a substantial capital injection” that will help the team expand its infrastructure.

The team is currently competing as Sauber and will be rebranded as the Audi works outfit for 2026 after it reached an agreement for a full takeover earlier this year.

“This additional capital will accelerate the team’s growth and is yet another milestone on our long-term strategy,” Audi chief executive Gernot Dollner said in the joint statement.

Read more from the original article on here at www.aljazeera.com.


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