Audi COLLAPSING Under Massive Financial Pressure - Future in SERIOUS DOUBT!

[@OldSonyMan]

what is 'Formula 1' ?

[@aoife1122]

McLaren is owned to 100% by Mumtalakat, the sovereign wealth fund of Bahrain. Nothing to do with Qatar or the QIA which also holds a minority stake (17%) in Audi's parent company Volkswagen Group.

[@rayjones6497]

Mclaren was recently sold to CYVN Holdings, an Abu Dhabi sovereign fund - Mumtalakat no longer has any ownership of Mclaren

[@aoife1122]

​@@rayjones6497 Did they buy the whole shebang (McLaren Group)? I thought it was just McLaren Automotive... while the Bahrainis still holding on to the racing business. Anyway, the Emirates are still not Qatar (as the video suggested ;)

[@rayjones6497]

@aoife1122 you are right....CYVN have at this stage taken a minority stake in mclaren f1. Mclaren Automotive evidently lost almost $US1.2billion in FY2023.

[@aoife1122]

@@rayjones6497 Yea... I'd be very surprised if anyone selling a controlling stake in their F1 team in the foreseeable future. They really are "licenses to print money". Except, Audi have to pour countless millions into the engine development, millions they don't really have right now. It will be quite some time before that team turns a profit but if an when it does you can be sure the Qatari will want their share, wealth fund managers are no dummies. ;)

[@jangous9319]

Bulldhit. What would you know abou Audi's finances? These are extremely clever peoply and surely they have covered all possible scenarios. The will become a top team you will see.

[@aoife1122]

It's no secret that Volkswagen is in dire economical straits... they're facing cost cutting measures to the tune of 10 billion over the next three years with tens of thousands of jobs are on the chopping block and . Hard to justify pouring millions into Audi's F1 vanity project. Why Valtteri Bottas had to go... his $10m salary was just outrageous for a team like that, a relic from back when Sauber was still flush with Alfa Romeo cash. Huelkenberg ($2m) and Bortoleto will drive for peanuts in comparison.