Audi F1 Issue Official Statement Regarding Team Sale Rumors

We’re still learning the flow of the Formula 1 news world, including the rumor mill that tends to surround it. Last week, the latest rumor was that the Sauber F1 team, which Audi has been moving to purchase outright, could be sold in part to the Qatari sovereign wealth fund that already is a large shareholder in the Volkswagen Group. Though that might make sense given the VW Group ownership and Audi’s more recent struggle to close or sell off its Belgian plant, there don’t appear to be any definitive sources on the subject. A week on, Audi F1 has issued a statement to GPFans.com on the subject.

The statement said:

“The decision was well prepared two and a half years ago and reassessed last year. We are firmly convinced that Formula 1 and Audi are a perfect fit. It is in line with our strategy. 

“The announcement of the complete takeover of Sauber in March and the appointment of Mattia Binotto as CTO and COO of the project and Jonathan Wheatley as team principal from the middle of next year are expressions of our determination.

“We do not engage in the speculations that are currently circulating. The team is not for sale.”

By our read, this is a public relations answer that bats down the rumor. It’s not a denial, which means something of this nature is still possible should conditions require Audi to minimize its investment. Rumors last week suggested a Qatari investment wouldn’t end the Audi project but rather keep it going, allowing Audi and the Volkswagen Group to have less money invested… but also profit less from their investment thus far.

Time will tell, but we wanted to keep you up to date.