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Gulf Cup Draw to be Held in Basra on October 25

The Iraqi Football Association said the ceremony for holding the draw for the 25th Gulf Cup will be held on October 25
The Iraqi Football Association said the ceremony for holding the draw for the 25th Gulf Cup will be held on October 25
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Gulf Cup Draw to be Held in Basra on October 25

The Iraqi Football Association said the ceremony for holding the draw for the 25th Gulf Cup will be held on October 25
The Iraqi Football Association said the ceremony for holding the draw for the 25th Gulf Cup will be held on October 25

The Iraqi Football Association has announced that the ceremony for holding the draw for the 25th Gulf Cup will be held on October 25.

In a brief statement, the Federation said: "The draw will be held in the city of Basra on October 25."

The games are scheduled from January 6 to 19 next year.

The Gulf Cup is held every two years, and the first edition was held in Bahrain in 1970, when Qatar hosted the last edition in 2019, in which Bahrain won the first title in its history.

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Qatar’s Sovereign Wealth Fund Takes a Stake in Audi’s Future F1 Team

Formula One F1 - Qatar Grand Prix - Lusail International Circuit, Lusail, Qatar - November 29, 2024 Sauber's Guanyu Zhou, Williams' Franco Colapinto and McLaren's Oscar Piastri during practice. (Reuters)
Formula One F1 - Qatar Grand Prix - Lusail International Circuit, Lusail, Qatar - November 29, 2024 Sauber's Guanyu Zhou, Williams' Franco Colapinto and McLaren's Oscar Piastri during practice. (Reuters)
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Qatar’s Sovereign Wealth Fund Takes a Stake in Audi’s Future F1 Team

Formula One F1 - Qatar Grand Prix - Lusail International Circuit, Lusail, Qatar - November 29, 2024 Sauber's Guanyu Zhou, Williams' Franco Colapinto and McLaren's Oscar Piastri during practice. (Reuters)
Formula One F1 - Qatar Grand Prix - Lusail International Circuit, Lusail, Qatar - November 29, 2024 Sauber's Guanyu Zhou, Williams' Franco Colapinto and McLaren's Oscar Piastri during practice. (Reuters)

The sovereign wealth fund of Qatar is acquiring a “significant minority stake” in what will become Audi's works Formula 1 team from 2026, in a deal announced Friday ahead of the Qatar Grand Prix.

A joint statement said the Qatar Investment Authority will be “a long-term investor and partner” and provide “a substantial capital injection” that will help the team expand its infrastructure.

The team is currently competing as Sauber and will be rebranded as the Audi works outfit for 2026 after it reached agreement for a full takeover earlier this year.

“This additional capital will accelerate the team’s growth and is yet another milestone on our long-term strategy,” Audi chief executive Gernot Döllner said in the joint statement.

Qatar is already an investor in the Volkswagen Group, of which Audi is a part.

“QIA believes that Formula 1 is a sport with significant untapped investment potential,” QIA chief executive Mohammed Saif Al-Sowaidi said.

"The increasing commercialization of professional sports as an entertainment offering globally, and the increasingly global popularity of Formula 1, has made for an exciting opportunity for our first major motorsports investment.”

Sauber is changing both its drivers for 2025, as Nico Hülkenberg and rookie Gabriel Bortoleto arrive to replace Valtteri Bottas and Zhou Guanyu. It is the only team yet to score a point this season.