Audi Takes Minority Stake in Swiss-Based Sauber Group

02 October 2018, France, Paris: An employee polishes the logo of an Audi vehicle on the first press day of the Paris International Motor Show. (dpa)
02 October 2018, France, Paris: An employee polishes the logo of an Audi vehicle on the first press day of the Paris International Motor Show. (dpa)
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Audi Takes Minority Stake in Swiss-Based Sauber Group

02 October 2018, France, Paris: An employee polishes the logo of an Audi vehicle on the first press day of the Paris International Motor Show. (dpa)
02 October 2018, France, Paris: An employee polishes the logo of an Audi vehicle on the first press day of the Paris International Motor Show. (dpa)

Audi has taken a minority stake in the Sauber Group whose Swiss-based Formula One team are due to become the German car manufacturer's factory outfit from 2026.

Sauber said in a statement on Monday that, as planned, the Volkswagen-owned brand took the stake this month but gave no financial details.

"This is an important milestone on the way to Audi’s entry in Formula One," it said.

Audi announced last October that it had agreed to take a stake in Sauber Group, which has been involved in Formula One since 1993 and whose team are competing this season as Alfa Romeo using Ferrari engines.

Audi will make its own F1 power unit in Neuburg, Bavaria.



Paris 2024 Opening Ceremony: Saudi Team Highlights Cultural Heritage

Saudi athletes wave their country’s flag during the opening parade. (Saudi Olympic Committee)
Saudi athletes wave their country’s flag during the opening parade. (Saudi Olympic Committee)
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Paris 2024 Opening Ceremony: Saudi Team Highlights Cultural Heritage

Saudi athletes wave their country’s flag during the opening parade. (Saudi Olympic Committee)
Saudi athletes wave their country’s flag during the opening parade. (Saudi Olympic Committee)

Prince Abdulaziz bin Turki Al-Faisal, Chairman of the Saudi Olympic and Paralympic Committee, and his deputy, Prince Fahd bin Jalawi bin Abdulaziz, attended the opening ceremony of the 33rd Olympic Games in Paris.

Held outside the traditional stadiums for the first time in history, the ceremony featured a parade of the 206 participating countries on 100 boats traveling approximately 6 kilometers along the Seine River.

The Saudi show jumping team player, Ramzy Al-Duhami, and his colleague, the Saudi Taekwondo champion Dunya Aboutaleb, raised the Saudi flag at the opening of the world’s largest sporting event.

Al-Duhami expressed his pride in raising the Kingdom’s flag alongside his teammate, noting that it was a dream for any Saudi citizen. He wished success for the Saudi athletes in representing Saudi sports with distinction.

Aboutaleb, in turn, said he was honored to carry the Kingdom’s flag at the Olympic Games, stating: “I aspire to perform at a level that reflects the support and attention given to sports in the Kingdom.”

The Saudi athletes’ uniform was admired by the international media and the audience, who applauded the players the moment their boat appeared on the Seine River.

The designs for the opening ceremony were chosen through a national competition organized by the Saudi Arabian Olympic and Paralympic Committee, with the participation of designers from across the Kingdom.

Out of 128 competing designers, the chosen uniform by Saudi designer Alia Al-Salmi featured traditional men’s thobes and bishts and brightly patterned thobe al-nashal for women, symbolizing the athletes’ pride in their homeland and cultural roots.

Mashael Al-Ayed, 17, will be the first Saudi athlete to compete, taking to the pool for the 200 meters freestyle swimming event on July 28. Al-Ayed is the first female swimmer to represent Saudi Arabia at the Olympics.