Saudi Arabia Eyes Formula 1 Team Ownership Amid Growing Involvement

Saudi Arabia is considering ownership of a Formula 1 team, highlighted by strong involvement in the sport and partnerships like Aramco. The kingdom’s chairman points out financial motivations and growth potential. F1’s grid expansion raises questions about team formation versus acquisition.

Saudi Arabia is exploring the possibility of acquiring a Formula 1 (F1) team, as mentioned by the chairman of the country’s automobile and motorcycle federation. The kingdom has significantly increased its F1 involvement, hosting its first grand prix in 2021 and securing a partnership with Aramco, which is a global F1 partner and title sponsor of Aston Martin.

Khalid bin Sultan Al-Abdullah Al-Faisal indicated that the move towards team ownership may happen soon given the sport’s growth. He stated that potential buyers, likely from the Saudi Public Investment Fund (PIF), would be motivated by financial returns, particularly as F1 expands into new markets.

While Saudi Arabia is currently sponsoring F1 teams and hosting races, Al-Faisal expressed that potential ownership of a team would involve careful planning and management. He acknowledged the challenge of choosing a team to buy, but emphasized the kingdom’s strong interest in establishing a presence in F1.

F1 plans to increase its roster to 11 teams next year, with Cadillac joining the grid. Although regulations permit a maximum of 12 teams, it remains uncertain whether Saudi Arabia would form a new team or acquire an existing one. Al-Faisal conveyed his personal desire for a Saudi team, emphasizing the importance of successful and ethical management in such an endeavor.

Saudi Arabia is on the verge of possibly entering the Formula 1 ownership landscape, aiming to leverage its recent investments in the sport. With intentions to create or acquire a team, the kingdom is focusing on sustainable growth and successful management in this competitive arena. The interest reflects the broader strategy to enhance Saudi Arabia’s influence in global sports.

Original Source: racingnews365.com