Audi F1 issue official statement over team sale

Audi’s Formula 1 project have issued an official statement regarding reports they are set to sell a stake in the team following a ‘billion’ dollar miscalculation.Audi are set to make their highly-anticipated entry to the grid for the 2026 season when the brand will have fully taken over current F1 outfit Sauber.Ahead of their entry, the team have been making major moves, signing up Nico Hulkenberg and Gabriel Bortoleto to drive their cars, whilst the likes of Mattia Binotto and Jonathan Wheatley have been signed to handle things operationally. Last week, however, a huge bombshell emerged, with reports claiming that a stake of the team was set to be sold to the Qatari sovereign wealth fund and that the deal could be completed as soon as next week.Audi F1 billion dollar miscalculationSpeaking out on these reports via Sky Germany, former F1 star turned pundit Ralf Schumacher claimed that the team were seeking investment due to drastically underestimating the finances needed to compete in the sport.“Things just aren’t going smoothly,” the German said on Audi’s situation. “There are already personnel changes before they’ve even begun.”At Sauber at the moment, they’re really fighting at the back of the field, and now, of course, with the economic disaster currently happening in Germany, jobs are under debate, profits are collapsing.”This has led to the point where Audi has slightly miscalculated the whole project – unfortunately, it appears this is around a billion.”