Saudi Arabia wants to attract Formula 1 teams
Saudi Arabia is diversifying its activities by getting involved in motorsports for several years and aims to attract more car competitions in the coming years.
Saudi Arabia has been a major player in the world of motorsport for the past few years, and shows no signs of stopping anytime soon. In fact, the head of motorsport in Saudi Arabia, Prince Khalid Bin Sultan Al Faisal, wants to create their own version of the British motor racing valley over the next 15 years. This colossal project aims to produce a Saudi Formula 1 World Champion.
“We want to create a hub,” he revealed to Motorsport.com. “We have large companies that can contribute to the future of motorsport.”
Partial team buybacks
To successfully carry out this project and to attract the Formula 1 teams based in England, an investment fund has acquired shares in McLaren and Aston Martin teams. The aim of these investments is to establish a headquarters in Saudi Arabia in the coming years.
The private investment fund has bought shares of McLaren and Aston Martin – we are heading in that direction. I hope that we will be able to open and establish a headquarters in Saudi Arabia or hire people who can assist us in manufacturing cars or technology, and creating our own brands, reveals Prince Khalid Bin Sultan Al Faisal.
An ambitious project
In line with the development of motor sports-related infrastructure, Saudi Arabia also aims to create a breeding ground for champions who will evolve primarily in Formula 1 and MotoGP. The Middle Eastern country wants to shine through these talented athletes. This ambitious project is characterized by colossal investments throughout the country, including the creation of circuits and the construction of future academies.
« We really want to have a champion, a driver who can compete in the Formula 1 championship, who can compete in MotoGP. We are investing a lot in infrastructure, in building tracks in Saudi Arabia. We want to build academies to be more involved: Saudi teams with Saudi drivers or other drivers to race in Saudi teams. It’s still a long way to go, but I hope that by 2030, 2035, 2040, we will be able to achieve our goals », the Saudi official further stated.
