Saudi Arabian F1 team 'may become a reality' - Prince

      "People will purchase it to generate profit."

      Saudi Arabia is poised to further expand its considerable investments in Formula 1 by either launching or acquiring a team. This weekend, the Kingdom is hosting a high-speed street race in Jeddah, while its state-owned oil company Aramco and mining firm Ma’aden sponsor Aston Martin, and the Public Investment Fund (PIF) invested in McLaren in 2021.

      Now, Prince Khalid bin Sultan Al-Abdullah Al-Faisal, a member of the royal family, has expressed Saudi Arabia's interest in owning an F1 team. "It’s a possibility," he told reporters, citing the sport's rapid growth. "If someone were to purchase a Formula 1 team, it would be seen as a profitable venture, particularly if acquired by a PIF entity. We are quite interested."

      As the chairman of the Saudi automobile federation, the Prince emphasized that there is "definitely space on the grid" for Saudi Arabia, noting that by 2026, there will be eleven teams, with a maximum of twelve. "In the future, there might be one or two teams for sale," he mentioned. "We already organize a grand prix and support teams, so it wouldn’t surprise me if we hear about a Saudi team soon. It's challenging to determine which team to buy and how to run it, but I personally would love to see a Saudi team. It may be complex, but why shouldn’t it be achievable?"

      The Prince also suggested that Saudi Arabia is keen on hosting the season-opening grand prix. "We aim to be the first on the calendar," Prince Khalid stated. "This is primarily due to the weather; it’s too hot here during the mid-season. Starting the season this way is also better for sales."