Qatar is buying a significant minority stake in Audi's Formula One team, the Gulf country's estimated $510 billion sovereign wealth fund and the German carmaker said on Friday. The holding will be almost a third of the team,

Audi has sold a stake in its Formula One team to Qatar’s sovereign wealth fund ahead of the German manufacturer’s entry to the sport in 2026. Audi announced on Friday ahead of this weekend’s Qatar Grand Prix that the Qatar Investment Authority (QIA) had acquired a “significant minority stake” in the team,

A statement from the German car company said the Gulf state would buy a “significant minority” in the team, which is entering F1 in 2026. The deal will be completed next year, after Audi has taken full ownership of the Sauber team that is the basis for its entry.

Four-times world champion Max Verstappen put Red Bull on pole position for the first time in five months at the Qatar Grand Prix on Saturday while McLaren qualified ahead of title rivals Ferrari.