F1 Rumor: A Small 'Miscalculation' Of €1 Billion Put The Audi Project On The Brink Of Collapse

Saajan Jogia | Jul 25, 2024

Audi F1 / Audi Press Image

Former Formula 1 driver Ralf Schumacher has revealed that the Sauber-Audi deal was on the brink of collapse owing to a miscalculation worth €1 billion. The team had to be 'refinanced' and retain driver Zhou Guanyu to level the ship for 2026.

Audi, which is set to take over the Sauber F1 team entirely in 2026, made drastic changes to its management recently by ousting F1 head Andreas Seidl and chairman Oliver Hoffmann. Seidl was replaced by ex-Ferrari boss Mattia Binotto, who will assume the dual roles of chief operating officer and chief technical officer.

The change was reportedly due to a power struggle between Seidl and Hoffmann, which impeded Audi's preparations to join the Formula 1 grid. A €1 billion miscalculation reportedly compounded the team's issues, leaving them unable to hire new drivers for the current season. Consequently, Zhou, who brought in financial support from his sponsors, was retained on the team.

Revealing insider information, Schumacher told Sky Germany:

“The project was actually on the brink of collapse at Audi because there was apparently a small miscalculation, amounting to around €1 billion. At least that’s the rumor.

“This called into question what was happening. The team had to be refinanced because no money had flowed in. Hence the decision to keep Zhou Guanyu as a driver and take the money.

“As a result, nothing could happen. There were no people to hire and no prospects to offer. Then the whole issue was simply left as it was before.

“Despite all the sympathy I have for the team, a lot has to change in the paddock at Sauber but Seidl was fighting with blunt weapons at the time.”

Schumacher warned Audi that frequent management changes in Formula 1 'are not a good thing' for any team. However, he also expressed confidence in Binotto, who has a huge task of getting things ready for the team in a short span of 18 months. Speaking about the internal turmoil, he added:

"It’s a very big bang. Changing the personnel even before the start is very interesting. I am excited.

“At least Audi has managed to bring in an experienced man in Mattia Binotto – which is important. You just have to be aware that constant personnel changes at management level are not a good thing in Formula 1. It’s not a corporation, but a Formula 1 team.

“It’s difficult for me to understand. The decision to bring in Andreas Seidl was made under different circumstances. He was a CEO and, as is often the case, you bring in the people you know. You want to create your own environment.

“There were probably also tensions. Oliver Hoffmann, who now also has to go, tried to drive Andreas Seidl out internally.

“I could imagine that this fight also led to the decision being made. I also don’t think it was known. It’s also very surprising for Andreas Seidl, I’m sure of that.

“But Mattia Binotto is certainly someone who can do a good job. But this is also a huge task for him.”