Saudi Arabia‘s dominance of major international sporting events is steadily advancing, and Formula 1 appears to be the next stage on which the kingdom is set to take the podium. Not as a host (which it already is, with a Grand Prix taking place this coming weekend), nor as a sponsor, but as the owner of a team.
Saudi Arabia continues to fill the gap it had in Formula 1
But let’s take it one step at a time. This year, the country has at least 1,000 sports commercial agreements (sponsorships, purchases, or tournament organization) around the world worth billions of euros, with which it is attempting to whitewash its image as a reactionary dictatorship.
Saudi Arabia has become part of a huge network of contracts among the elite of some of the major sports. From soccer (194), boxing (123), golf (92), mixed martial arts (70), motor racing (54), tennis (36), athletics (22), cycling (14) and paddle tennis (13) to more than 1,500 connections between senior regime officials in Saudi political entities and state-owned companies and sports organizations.
In Formula 1, it has gone all in, so to speak. It entered the category in 2021 with its own Grand Prix in Jeddah. Subsequently, the country’s largest oil and petrochemical company, Aramco, which is also the world’s largest oil company, reached an agreement to become the main sponsor of the Aston Martin team, which even lends its name to the structure, as well as being the main partner of Formula 1.
In addition to having their own Grand Prix and sponsoring Aston Martin and F1, they now want their own team
As if that weren’t enough, in 2026, Aramco itself will be the main fuel supplier for Formula 1. In other words, the teams will use fuel from the oil company, especially considering that next year’s regulations stipulate that it must be synthetic. And with all this, Saudi Arabia also wants to get involved with its own Formula 1 team. No big deal.
This possibility, which until recently seemed mere speculation, was publicly acknowledged by Prince Khalid bin Sultan Al-Abdullah Al-Faisal, president of the Saudi Arabian Motor Federation.
“It could happen, it could happen soon if you look at the growth (of the sport),” he said. ”We see that F1 is reaching new markets, sales are increasing globally.” The important thing, however, comes now. They do not plan to do so with a new entry, as will be the case with Cadillac in 2026, but rather by opening their checkbook. They are thinking of buying a team from the current F1 grid. And Aston Martin is no stranger to all this.
“It’s not easy to say which team to buy and how you’re going to manage it. But we’re very interested. We host F1, we sponsor teams. So I wouldn’t be surprised if we see an announcement about a Saudi team,” he added.
The relationship between Aramco and Aston Martin is key
Of course. With these statements, all eyes have turned to the aforementioned Aramco… and Aston Martin. Because the Saudi prince indicated that right now it does not seem easy to buy one of the teams, as in addition to money, a long-term action plan is required, and that is where the doubts begin.
This is where Aston Martin comes in. Because Lawrence Stroll has already sold several shares in the F1 team, the last one just a few weeks ago. And one of them currently also belongs to the Arab country, with the Saudi sovereign wealth fund owning 20.5% of the Silverstone team.
That is why the idea is beginning to circulate that the team’s owner, magnate Lawrence Stroll, could be willing to sell the rest of Fernando’s team to a Saudi Arabian investment fund. This is especially true if the team fails to meet its objectives in a couple of years, which is none other than becoming world champions. In addition, the state oil company Aramco is best placed to take over the brand.
The price of the transition would rise to 800 million euros, and the person responsible for the sale, in addition to the country’s interest in obtaining its own team, would be Lance Stroll himself. The owner’s son has been greatly surpassed by the Asturian driver, and as a result, his motivation to continue in Formula 1 has been reduced.
For some time now, Saudi Arabia has wanted to have its own brand, but it does not seem that it wants a generalist brand, but rather an iconic jewel like the British one. At the time, Lucid Motors, a luxury car company, also appeared on the scene. However, it became clear that it suited their plans because of its future technology. Aston Martin may be of interest to them because of its prestige, despite its current financial difficulties.