F1 plans announced
Audi takes over Sauber completely, Seidl becomes CEO
With the complete takeover of the Sauber racing team, Audi has removed the last doubts about its entry into Formula 1. On Friday, the car manufacturer announced its plans to take over 100 percent of the Sauber Group, thus going beyond its originally announced commitment.
Originally Audi wanted to take a 75 percent stake in the Swiss Formula 1 racing team, but now the previous majority owner, led by Tetra Pak heir Finn Rausing, has been completely triggered.
"Ambitious goals"
The current Sauber Managing Director Andreas Seidl is to take over the position of CEO for the Audi team in future. Audi announced its billion-euro entry into Formula 1 in August 2022 with the 2026 season. "We have ambitious goals," Seidl was quoted as saying in the press release. The former McLaren team principal added that the takeover of Sauber would further accelerate the implementation of these plans.
Audi is already building the new engine for its Formula 1 project in Neuburg an der Donau. The chassis comes from Hinwil from the Sauber team, which is competing in the racing series this season under the name Kick Sauber.
Overall responsibility for Audi's Formula 1 project will lie with the former Board Member for Development, Oliver Hoffmann, who, alongside former Audi boss Markus Duesmann, was the driving force behind the expensive undertaking. Hoffmann will become Chairman of the Board of Directors of the Sauber Group. His previous position as Head of Development will be taken over by the new Audi boss Gernot Döllner.
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