Saudi Arabia Considers Future Acquisition of Formula 1 Team

Saudi Arabia is considering purchasing a Formula 1 team, as expressed by Prince Khalid bin Sultan Al-Faisal. The kingdom has been increasing its investments in motorsport through key sponsorships and is keen on establishing a stronger presence in F1. Additionally, there are aspirations to host the season opener in the F1 calendar for enhanced recognition.

Saudi Arabia is considering acquiring a Formula 1 team, according to statements from Prince Khalid bin Sultan Al-Abdullah Al-Faisal. Recently, the country has made significant investments in motorsport through sponsorships from firms like Aramco and Maaden, contributing to teams such as Aston Martin, while also engaging with Formula E. The upcoming F1 event in Jeddah is likely to enhance discussions regarding a potential team purchase, especially as a new racing circuit is being developed in Qiddiya.

Prince Khalid expressed interest in the idea of establishing a Saudi-backed F1 team. He noted, “There is a space available… it could happen.” With F1’s popularity growing and the increasing market reach, he emphasized that if a purchase aligns with financial interests, it could be a feasible venture. Despite potential challenges in management and partnership, he remains optimistic about the possibility of a Saudi participation in F1.

The Prince also commented on Saudi Arabia’s position within the F1 calendar. Following last year’s races in Saudi Arabia and Bahrain, the two events are now scheduled differently to avoid clashing with Ramadan. He expressed a desire for Saudi Arabia to host the season opener in the future to gain more visibility and prestige. “This is something that we would like to have,” he stated, recognizing the logistical complexities that F1 must manage in scheduling races.

In summary, Saudi Arabia is exploring the prospect of acquiring a Formula 1 team, reflecting its growing interest in motorsport. Prince Khalid has indicated that investment in F1 could be a viable path, given the sport’s expanding global reach. Additionally, Saudi Arabia aims for a prominent position in the F1 calendar, aspiring to host the season’s opening race, which would enhance its international profile within the sport.

Original Source: www.autosport.com