F1: Saudi Arabia eyes F1 team, driver
(GMM) Plans may be afoot for a Saudi Arabian Formula 1 team.
The lucrative Kingdom caused a stir recently amid rumors Saudi’s national investment body could be eyeing a $20 billion buyout of F1’s commercial rights.
F1 CEO Stefano Domenicali denied it, but with Saudi Arabia’s commercial interests in Formula 1 growing, and with a grand prix already up and running, a national team could be the next step.
“Our relationship with Formula 1 has developed successfully over the past 40 years,” said Prince Khalid bin Sultan bin Abdullah Al-Faisal Al-Saud, boss of Saudi Arabia’s automobile federation.
“This legacy first led us to racing and may one day lead to the creation of our own Formula 1 team,” the member of the ruling family added.
“We would also like to see our own driver in Formula 1 who can compete at the highest level. We are really passionate about motorsport and want to contribute by playing a big role in the future of this sport.”
“Hopefully in 10 to 20 years from now you will see Saudi Arabia and Saudi companies and more people engaged globally with Formula 1.”