Audi CEO Gernot Döllner discusses the possible sale of shares in the Formula 1 team and makes it clear that there is currently ‘no need’ for this
It is no secret that the VW Group is currently in the midst of a major crisis. However, according to Audi CEO Gernot Döllner, the parent company’s problems have absolutely no impact on Audi’s own Formula 1 project. “No,” he makes unequivocally clear to Sport Bild.
“The project is completely separate. Both from the Volkswagen Group and from Audi as a company,” emphasises Döllner, explaining: “That was, and remains, immensely important to us. That is why, before taking the step towards Formula 1 three years ago, we drew up a business case that includes independent financing.”
“The aim is for it to break even before the end of this decade,” reveals Döllner. Audi will be competing in the premier class with its own works team from the 2026 Formula 1 season onwards, having previously taken over the Sauber racing team.
Also on board is the Qatari sovereign wealth fund QIA, which is rumoured to hold around a third of the shares in the Formula 1 team. “We won’t comment publicly on figures, but we’re pleased to have a strong and reliable partner by our side,” says Döllner.
This helps “to make the necessary investments in the team with the necessary foresight”, he explains. The sale of further shares is also not ruled out. “The structure we have in place, with Qatar as a partner and us as the majority shareholder, allows for this,” emphasises Döllner.
“There is a great deal of external interest,” he also reveals, but makes it clear: “If we were to consider this, we would do so through a structured process with adequate lead time. At present, we see no need for this.”
In other words: a sale of further shares is not necessary at the moment and is therefore not planned. Döllner also explains that even in the event of a possible sale of shares, Audi is to remain the racing team’s majority shareholder. “I assume that will be the case,” says the CEO.
Döllner in favour of “clear lines of responsibility” within the team
In this context, Döllner also emphasises how important clear lines of responsibility are within a Formula 1 team. “There must be clear lines of responsibility. You cannot run a Formula 1 team with a democratic decision-making process,” he explains.
“If those in charge have to consult with all shareholders at every step, you will always be too slow. The partners must have confidence that the performance side is working and that they need, so to speak, ‘only’ to take care of the financial aspects.”
“I have seen in the past that motorsport teams have had to justify their weekend performance at the board meeting on Monday. That doesn’t benefit anyone; it just wastes time,” Döllner makes clear.
Incidentally, at the parent company Volkswagen, they are following events at the racetrack “closely” and with a “very, very positive” outlook, Döllner reveals, adding: “I’m getting a lot of positive feedback. Especially as Formula 1 is a fine illustration of where we want to take Audi.”
“We want to shape the future and move forward.”