As reported by Autosport earlier this week, Audi has approved plans for a full takeover of the shareholding of the Sauber team from current owner Islero Investments AG. This had initially only been expected to be completed by 2026.
Audi has also outlined further commitment to the project, having appointed Oliver Hoffmann, its former chief development officer, to become chairman of the board of directors of all Sauber companies.
Hoffmann will work with Andreas Seidl, who has also been announced as CEO of the Audi team.
Seidl will be responsible for the implementation of the F1 project and overall management – as well as being the public face of the squad.
Manfred Doss, Chairman of the Supervisory Board of Audi, explained: “The entry into Formula 1 is not only the pinnacle of Audi’s very successful history in motorsport, but also as big a sporting challenge as it is a financial commitment.
“Through the bundling of Oliver Hoffmann’s responsibilities and the complete takeover of the Sauber Group, we are accelerating our preparations for the 2026 season.”
Source: Autosport