Qatar's sovereign wealth fund, the Qatar Investment Authority (QIA), is set to acquire a 30% stake in the Audi Formula One (F1) team, which will be rebranded under the Audi name for the 2026 season. The deal, worth hundreds of millions of dollars, highlights the trend of wealthy Arab nations investing in global sports teams and leagues. This marks Qatar's first significant investment in elite motorsport, with the QIA prepared to provide substantial financial resources to improve the Audi team's performance. The Qatari investor is expected to play an active role in enhancing the sport's sustainability in fuel and logistics.
image sourced from original article at https://news.sky.com/story/qatari-sovereign-wealth-fund-seals-audi-f1-stake-purchase-13262465
Original article source: https://news.sky.com/story/qatari-sovereign-wealth-fund-seals-audi-f1-stake-purchase-13262465
Source Id: 8433546740