Saudi prince reveals plan to buy F1 team in move that would send shockwaves across the sport
Saudi Arabia could be interested in owning a Formula 1 team as the country looks to increase its influence in the sport.
This weekend, F1 will return to the Middle East as the Saudi Arabian Grand Prix takes place around the Jeddah Corniche Circuit.
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.
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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 ESPN, 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?"
What other sports teams do the Saudis own?
Over the last few years, the Saudi influence in the sporting world has increased massively.
Back in 2021, Premier League side Newcastle United were bought by the PIF.
Since then, the Magpies have seen an increase in investment, which led to their first major trophy in 70 years after they clinched the 24/25 Carabao Cup.
In addition, they also back the big hitters in the Saudi Pro League like Al Ittihad, Al Nassr and Al Hilal.
Aside from football, Saudi has also become the new home of boxing, the likes of Tyson Fury, Oleksandr Usyk and Anthony Joshua have all fought in the Kingdom.
Meanwhile, sports such as golf, horse racing and cricket have also received backing from Saudi and the list is set to grow in the future.
Topics: Saudi Arabia, Formula 1
Marcus Chan