Qatar Fund Races Into Formula One with Audi Stake

The Qatar Investment Authority has inked a deal to purchase a significant minority stake in Audi's Formula One team, announced during the Qatar Grand Prix weekend at Lusail International Circuit.

The Qatar Investment Authority (QIA), the nation's vast $510 billion sovereign wealth fund, has confirmed a deal to acquire a substantial minority stake in Audi's Formula One team. This significant agreement was announced by the fund and carmaker on Friday.

The strategic purchase was unveiled during the first day of the Qatar Grand Prix weekend, taking place at Doha's Lusail International Circuit. This event marks the penultimate Grand Prix of the Formula One season.

(With inputs from agencies.)