F1 Rumor: Which F1 team does Saudi Prince plan to buy? (Update)

Saudi Arabia could be set to deepen its already intensifying investments in Formula 1 by starting or buying a team.

The Kingdom is not only host of this weekend’s ultra-fast street race in Jeddah – the state-owned oil giant Aramco and mining company Ma’aden sponsor Aston Martin and the Public Investment Fund (PIF) bought into McLaren in 2021.

And now, Prince Khalid bin Sultan Al-Abdullah Al-Faisal – a member of the royal family – says Saudi Arabia is interested in actual F1 team ownership.

“It could happen,” he told journalists, including Ouest France newspaper. “It could happen soon as we see the rapid growth of this sport.

“If you buy a Formula 1 team, people will buy it to make money, especially if it is bought by one of the PIF companies,” he added. “We are very interested.”

The Prince, also chairman of the Saudi automobile federation, insisted there is “definitely room on the grid” for Saudi Arabia, pointing out that in 2026 there will be eleven teams, although the maximum is twelve.

“Potentially, one or two teams could be put up for sale in the future,” he continued. “We already organize a grand prix and sponsor teams, so I wouldn’t be surprised if we see an announcement of a Saudi team soon.

“It’s not easy to say which team to buy and how to manage it, but personally, I would like to see a Saudi team. It is not an easy issue, but why shouldn’t it be possible?”

The Prince also indicated that Saudi Arabia is interested in taking over as the season-opening grand prix.

“We want to be the first on the calendar,” said Prince Khalid. “That has everything to do with the weather – it’s just too hot here in the middle of the season. And it’s better for sales to start the season.”

This weekend, F1 will return to the Middle East as the Saudi Arabian Grand Prix takes place around the Jeddah Corniche Circuit. Prince Khalid bin Sultan al-Abdullah al-Faisal (pictured) aims to buy an F1 team.

But Which One?

In recent years, Saudi has invested heavily in F1, with companies like Aramco and Maaden sponsoring Aston Martin and the Kingdom’s Public Investment Fund (PIF) involved in Formula E.

Looking ahead, the chairman of the Saudi automobile and motorcycle federation, Prince Khalid bin Sultan Al-Abdullah Al-Faisal, has hinted at owning an F1 team in the future.

As reported by Reuters, he said: “It could happen, it could happen soon if you see the growth [of the sport]. If you are going to buy a Formula 1 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 1 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, and sponsoring teams. So I wouldn’t be surprised if we see an announcement for a Saudi team.”

Prince Khalid added: “Personally, I would like to see a Saudi team.

“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?”

Which One?

The likely one they would buy would be one owned by investors looking to make a good return on their investment. The Likely candidates are – in no particular order:

McLaren – owned by the Qataris

Williams – Owned by American Venture Capitalists

Alpine – owned by American Venture capitalists plus movie and sports stars

Cadillac – owned by American venture capitalists

Haas – Owned by Gene Haas who is 72. How long before he decides to retire?

Visa Cash App/Racing Bulls – How long will Red Bull want to have two teams in F1 now that Dietrich Mateschitz has passed away?