bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

authorLocations

authors

corrections

sponsorType

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

quizIds

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

paywallTypes

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

Reuters

Owning a Formula One team could be the next step for Saudi Arabia after sponsoring the sport and hosting a grand prix, according to the chairman of the kingdom’s automobile and motorcycle federation.
Prince Khalid bin Sultan Al-Abdullah Al-Faisal told reporters in a video call ahead of this weekend’s race in Jeddah that the interest was there.
“It could happen, it could happen soon if you see the growth [of the sport],” he said.
“If you are going to buy a Formula One team then people will buy it to make money out of it, especially if it’s going to be bought by one of the PIF [Saudi Public Investment Fund] companies.
“We see Formula One is reaching new markets, sales are globally increasing …
“It’s not easy to say which team to buy and how you’re going to manage it. But we have a lot of interest … we’re hosting Formula One, sponsoring teams. So I wouldn’t be surprised if we see an announcement for a Saudi team.”

Saudi Arabia first hosted Formula One in 2021, while energy giant Aramco is a global partner of the sport and also title sponsor of the Aston Martin team.
The PIF invested in McLaren in 2021 and already has a 20.5 per cent stake in luxury carmaker Aston Martin, which is separate from the team controlled by Canadian billionaire Lawrence Stroll.
Aston Martin, the carmaker, said last month it would raise more than £125 million (US$163.5 million) from Stroll – who is also its chairman – and the sale of its stake in the F1 team.
Investment bank Raine Group has been commissioned by Stroll to help find a buyer for that holding.
There is also lingering speculation about the future of the Renault-owned Alpine team, despite the French carmaker’s insistence that a sale is not on the agenda.
Other Middle Eastern countries who host races have ties to Formula One, with the Qatar Investment Authority (QIA) holding a significant minority stake in the Audi team due to debut next year.
Bahrain’s sovereign wealth fund Mumtalakat is major shareholder in champions McLaren, with Abu Dhabi’s CYVN Holdings recently acquiring McLaren Automotive.
Saudi Arabia has invested heavily in sport over the past few years while critics accuse the kingdom of using sport to engage in “sportswashing” in the face of heavy criticism over its human rights record.
The country denies accusations of human rights abuses and says it protects its national security through its laws.

Formula One is enjoying a surge of support in the Middle East with younger female fans the fastest-growing demographic globally, according to Nielsen Sports. The region has four of the 24 races.
Formula One teams have soared in value of late, with new audiences attracted by the Netflix docu-series Drive to Survive.
Alpine, sixth overall last year with Aston Martin fifth, were valued at around US$900 million in 2023 after an investor group took a 24 per cent stake for US$200 million.
With General Motors-backed Cadillac coming in next year as an 11th team, there remains a space for one more.
“Personally, I would like to see a Saudi team,” Prince Khalid said.
“But if Saudi Arabia or one of the Saudi companies will be involved in one of the teams, I would like them to do it the right way and be successful. It’s a tricky question, but why not?”


Met Gala 2025: celebrities from Bad Bunny and Sabrina Carpenter, to Sydney Sweeney and Blackpink’s Lisa and Jennie graced the red carpet in looks celebrating Black men’s style and tailoring

Style Edit: At Watches and Wonders 2025 in Geneva, Tag Heuer wowed with timepiece innovations designed to set hearts racing, plus a spectacular Formula 1 pit stop that dominated Palexpo

Miami Grand Prix: Norris wins sprint, cuts Piastri’s overall lead

F1: Mercedes rookie Kimi Antonelli becomes youngest-ever pole sitter at 18

Formula One (F1)

Saudi Arabia could own Formula 1 team soon, kingdom’s motor racing boss says

Red Bull’s Max Verstappen (left) and Sergio Perez (rear), and Ferrari’s Charles Leclerc finished in that order at last year’s Saudi Arabian Grand Prix. Photo: AFP

“I would like to see a Saudi team,” Prince Khalid Bin Sultan Al Abdullah Al-Faisal said. Photo: Reuters 

Saudi Arabia’s Aramco is an F1 global partner and title sponsor of the Aston Martin team. Photo: AP

Named after Steven Gerrard, meet the next Chinese racing driver accelerating to top

Hong Kong-born Gerrard Xie takes a selfie with fans ahead of his debut in the FIA Formula 3 Championship at the Australian Grand Prix. Photo: Instagram/ gerrard_xie_official

Gerrard Xie battled through the wet in his F3 debut in Australia. Photo: Instagram/gerrard_xie_official

American’s ‘craziest experience’ at North Korea marathon, completes record task

Cameron Mofid in Pyongyang, North Korea – the 195th country he has visited. Photo: Cameron Mofid

Cameron Mofid after completing the 10km run at the Pyongyang International Marathon. Photo: Cameron Mofid 

Denmark’s Claus Randrup was surprised by how much they were able to explore the city. Photo: Claus Randrup

Sport

Motorsport

After sponsoring sport and hosting grand prix, owning a team is potential step for oil-rich nation, amid accusations of ‘sportswashing’


After sponsoring sport and hosting grand prix, owning a team is potential step for oil-rich nation, amid accusations of ‘sportswashing’.


Saudi Arabia