F1 team announce TAKEOVER as end of an era approaches

Audi have confirmed that they will take 100% ownership of Sauber F1 Team after purchasing the remaining three quarters of the company on Friday.

In August 2022, the German manufacturer purchased 25% of the outfit and announced their intention to join the Formula 1 grid from 2026.

READ MORE: Pit-stop disasters and Hamilton gesture - 5 things you may have missed at the Saudi Arabian Grand Prix

On Friday, Audi completed their acquisition of the other 75 percent and will take complete ownership of the team.

This officially marks the end of Sauber in F1, who have had a long and illustrious career in the sport having debuted in 1993.

Audi take over Sauber

The team have achieved one victory in their history – coming at the 2008 Canadian Grand Prix as BMW with Robert Kubica and has given debuts to notable drivers such as Kimi Raikkonen, Sebastian Vettel and Charles Leclerc.

Sauber CEO Andreas Siedl will remain in his post with the team as ‘the face’ of the operation, while Audi’s head of technical development Oliver Hoffman will be above Siedl as the company’s board’s general representative for the team.

In an official statement, Hoffman said: "I am convinced that by bundling responsibilities and taking over 100 per cent of Sauber Group, we will further accelerate our preparations for the launch in 2026.”

"I am pleased we were able to secure the services of Andreas Seidl as Audi F1 Team CEO. He is exactly the right man for our ambitious plan. Thanks to his broad experience from leadership roles on the manufacturer and Formula 1 team side, he will make a significant contribution to Audi's Formula 1 project."

Seidl, who joined Sauber from McLaren in 2023, added: "I thank [Audi chief executive] Gernot Dollner and Oliver Hoffmann for their trust and am looking forward to leading Audi into Formula 1 together with a highly-motivated team as CEO of the Audi F1 Team.”

"We have a clear roadmap for how we want to become competitive in Hinwil as well as in Neuburg. We have ambitious goals. Realisation of them is in progress and will be further accelerated through the complete takeover of Sauber by AUDI AG."

READ MORE: Ferrari LEGEND sent Bearman message ahead of F1 debut

Related

Latest F1 News

F1 team accused of BILLION DOLLAR mistake as struggles emerge

• November 14, 2024 18:00

F1 Social

F1 star in UNBELIEVABLE response to getting cut

• November 13, 2024 20:00