Apr.16 (GMM) Saudi Arabia could be set to deepen its already intensifying investments in Formula 1 by starting or buying a team.
The Kingdom is not only host of this weekend’s ultra-fast street race in Jeddah – the state-owned oil giant Aramco and mining company Ma’aden sponsor Aston Martin and the Public Investment Fund (PIF) bought into McLaren in 2021.
And now, Prince Khalid bin Sultan Al-Abdullah Al-Faisal – a member of the royal family – says Saudi Arabia is interested in actual F1 team ownership.
“It could happen,” he told journalists, including Ouest France newspaper. “It could happen soon as we see the rapid growth of this sport.
“If you buy a Formula 1 team, people will buy it to make money, especially if it is bought by one of the PIF companies,” he added. “We are very interested.”
The Prince, also chairman of the Saudi automobile federation, insisted there is “definitely room on the grid” for Saudi Arabia, pointing out that in 2026 there will be eleven teams, although the maximum is twelve.
“Potentially one or two teams could be put up for sale in the future,” he continued. “We already organise a grand prix and sponsor teams, so I wouldn’t be surprised if we see an announcement of a Saudi team soon.
“It’s not easy to say which team to buy and how to manage it, but personally I would like to see a Saudi team. It is not an easy issue, but why shouldn’t it be possible?”
The Prince also indicated that Saudi Arabia is interested in taking over as the season-opening grand prix.
“We want to be the first on the calendar,” said Prince Khalid. “That has everything to do with the weather – it’s just too hot here in the middle of the season. And it’s better for sales to start the season.”
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