Newey's next destination is as of yet undecided, but Wheatley has now been confirmed to be joining the new Audi outfit in 2026.
Wheatley will have to watch the whole of 2025 from the sidelines due to a period of gardening leave, but will become Audi's team principal when they take over from the current Sauber-owned outfit in 2026.
Wheatley joins Audi
It means that Audi will have the formidable duo of Wheatley and former Ferrari team principal Mattia Binotto at the helm for their first season in the sport, with Binotto being confirmed to be taking the chief operating officer and chief technical officer roles with the German outfit.
Wheatley boasts a plethora of F1 experience, winning six constructors' championships with Red Bull since becoming their sporting director in 2006, as well as having a successful spell with the Benetton/Renault team between 1991-2006.
However, the Brit has never taken on a team principal role, and he is excited for a bigger burden of responsibility.
“I am extremely proud to have been a part of the Red Bull Racing journey over the last eighteen years and will leave with many fond memories," Wheatley told Audi's official website.
"However, the opportunity to play an active part in Audi’s entry into Formula 1 as head of a factory team is a uniquely exciting prospect, and I am looking forward to the challenge.
"Also, I am glad to be working together with Mattia, whom I have known for many years and who is the right person to collaborate with in this exciting project."