Saudi Arabia’s Potential Future Ownership of a Formula 1 Team

Prince Khalid bin Sultan Al-Abdullah Al-Faisal has indicated that Saudi Arabia may pursue ownership of a Formula 1 team in the future. He mentions the country’s growing involvement in F1 through partnerships and investments, noting that financial backing from Saudi companies could facilitate this ambition. Possible pathways include acquiring existing teams or establishing new ones, with substantial market growth supporting this direction.

Prince Khalid bin Sultan Al-Abdullah Al-Faisal, Chairman of the Saudi Automobile & Motorcycle Federation, expressed confidence that Saudi Arabia could eventually own a Formula 1 team. Speaking before the Saudi Arabian Grand Prix, he highlighted the nation’s growing involvement in the sport, having hosted a Grand Prix since 2021 and seen local companies’ participation increase.

Saudi Arabia’s engagement in Formula 1 includes partnerships with major companies like Aramco, which is both a global partner and the title sponsor of Aston Martin. Additionally, the Saudi Public Investment Fund (PIF) holds shares in McLaren, illustrating the country’s financial commitment to motorsport.

The PIF has expanded its interest in motorsports by launching a STEM program with Formula E and maintains a long-standing presence in the sport. Prince Khalid believes that full ownership of an F1 team could follow the acquisition of Newcastle United Football Club in 2021, indicating a potential strategic direction for Saudi investments.

He remarked, “It could happen, it could happen soon if you see the growth [of the sport].” He noted that any purchase would aim for profitability. With increasing interest and engagement in Formula 1, a Saudi team may become a reality, possibly without facing initial resistance experienced by previous ventures.

Options for entering F1 include acquiring an existing team or starting a new one, with the Alpine team reportedly on the market. Current regulations allow a maximum of 26 cars on the grid; with the upcoming Cadillac team confirming 22, there remains a chance for a new entry. “Personally, I would like to see a Saudi team,” Prince Khalid stated, emphasizing the desire for success on a global scale.

Prince Khalid’s remarks about a potential Saudi ownership of an F1 team signify the country’s deepening ties with motorsport. With a strategic focus on financial investment and partnerships, Saudi Arabia is poised for further involvement in Formula 1, whether through acquiring an existing team like Alpine or forming a new one. Expectations for growth within the sport indicate that this ambition could materialize sooner rather than later.

Original Source: www.motorsportweek.com