Saudi Arabia interested in purchasing Formula 1 team soon
The Saudis already have a footing in Motorsport and other Middle Eastern countries already have interests in F1.
Saudi Arabian investors are seeking a place on the Formula 1 high table, and possibility exists that it will happen sooner rather than later.
Prince Khalid bin Sultan Al-Abdullah Al-Faisal, who is the head of the Saudi Motorsport Federation told reporters in a video call ahead of this weekend's race in Jeddah that the interest was there to hopefully have the 12th side in Formula 1 owned by a Saudi.
The Saudis already have a footing in Motorsport and other Middle Eastern countries already have interests in F1, making a move by the Saudi's barely surprising.
Saudi Arabia first hosted Formula 1 in 2021, while energy giant Aramco is a global partner of the sport and also the title sponsor of the Aston Martin team.
The Saudi Public Investment Fund (PIF) which is a caucus for international Saudi investment, put money into title chasing McLaren in 2021 and already has a 20.5 % stake in luxury carmaker Aston Martin, which is separate from the team controlled by Canadian billionaire Lawrence Stroll.
"It could happen soon if you see the growth. 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," he said.
"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."
Other Middle Eastern countries that host races have ties to Formula 1, with the Qatar Investment Authority (QIA) holding a significant minority stake in the Audi team due to debut next year.
Bahrain's sovereign wealth fund Mumtalakat is major shareholder in champions McLaren, with Abu Dhabi's CYVN Holdings recently acquiring McLaren Automotive.
The Saudi Arabia Grand Prix, held in Jeddah will take place on Easter Sunday, 20 April 2025, at the Jeddah Corniche Circuit and is the fifth race of the season.
The Australian, Chinese, Japanese, and Bahraini Grand Prix have been the four races that have been run so far.