Latest news with #JonathanWheatley
TimesLIVE
12 hours ago
- Automotive
- TimesLIVE
Revolut named official title partner of Audi F1 team
British financial technology giant Revolut will become title partner of the Audi Formula One team from next season in a "monumental" multi-year deal, the two parties announced on Wednesday. The fast-growing London-based fintech company was valued at $45bn (R804,836,250,000) last year through a secondary share sale to new and existing investors. Swiss-based Sauber are becoming the factory Audi team in 2026, when Formula One starts a new engine era with major rule changes and an 11th team on the grid with the arrival of Cadillac. Jonathan Wheatley, principal of the Audi team, said the deal had been put together in less than four months and had obvious benefits for the two sides. "If you imagine we need to engage with our fans, we need a partner that's going to help us do that," Wheatley told Reuters in a video call. "We need to expand hugely into the incredible global space Formula One is in at the moment, and we need to become the most attractive team in Formula One." Wheatley said the deal reflected Audi's brand strength and was a "good news story for Formula One". "It's the Audi magnet that's drawing a lot of people here right now," he said, speaking from the team headquarters in Hinwil, Switzerland. Revolut has more than 55-million customers but no physical branches. It gained a banking licence in Britain in 2024, after a three-year wait, and has global expansion plans. Antoine Le Nel, Revolut's chief marketing officer, gave no financial details of the F1 partnership but said the company was in for the long run with Audi and aiming for 100-million customers by 2027. He said Revolut had been looking for a platform to help the company build on its expansion. "I think we have a true opportunity to bring F1 to a huge audience," he told Reuters. "From a retail perspective and a business perspective I think there's going to be a lot of opportunities for us to connect the fan base to the sport through the Revolut platform." Le Nel said Audi taking on established teams in Formula One was like Revolut competing against traditional banks. "If you look at Audi, a very premium German brand dominating its market, it's where we want to be," he said. "It's a way for Revolut to elevate and get to where Audi has been for a long time." Audi said Revolut Business would be extensively integrated into the team's financial operations. Sauber are sixth in the 10 team championship ahead of this weekend's Hungarian Grand Prix and have scored in their past five races. German driver Nico Hulkenberg celebrated his first F1 podium at Silverstone this month, finishing third in the British Grand Prix in a major boost for the team.
CNA
13 hours ago
- Automotive
- CNA
Revolut to become title partner of Audi F1 team
LONDON :British financial technology giant Revolut will become title partner of the Audi Formula One team from next season in a "monumental" multi-year deal, both parties announced on Wednesday. The fast-growing London-based fintech company was valued at $45 billion last year through a secondary share sale to new and existing investors. Swiss-based Sauber are becoming the factory Audi team in 2026, when Formula One starts a new engine era with major rule changes and an 11th team on the grid with the arrival of Cadillac. Jonathan Wheatley, principal of the Audi team, said the deal had been put together in less than four months and had obvious benefits for both sides. "If you imagine we need to engage with our fans, we need a partner that's going to help us do that," Wheatley told Reuters in a video call. "We need to expand hugely into this incredible global space that Formula One is in at the moment, and we need to become the most attractive team in Formula One." Wheatley said the deal reflected Audi's brand strength and was a "good news story for Formula One." "It's the Audi magnet that's drawing a lot of people here right now," he said, speaking from the team headquarters in Hinwil, Switzerland. Revolut has more than 55 million customers but has no physical branches. It gained a banking licence in Britain in 2024, after a three-year wait, and has global expansion plans. Antoine Le Nel, Revolut's chief marketing officer, gave no financial details of the F1 partnership but said the company was in for the long run with Audi and aiming for 100 million customers by 2027. He said Revolut had been looking for a platform to help the company build on its expansion. "I think we have a true opportunity to really bring F1 to a huge audience," he told Reuters. "From a retail perspective as well as a business perspective, I think there's going to be a lot of opportunities for us to connect the fan base to the sport through the Revolut platform." Le Nel said Audi taking on the established teams in Formula One was like Revolut competing against traditional banks. "If you look at Audi, very premium German brand dominating its market, it's where we want to be," he said. "It's a way for Revolut to elevate and get to where Audi has been for such a long time." Audi said Revolut Business would be extensively integrated into the team's financial operations. Sauber are sixth in the 10 team championship ahead of this weekend's Hungarian Grand Prix and have scored in their last five races. German driver Nico Hulkenberg celebrated his first F1 podium at Silverstone this month, finishing third in the British Grand Prix in a major boost for the team.
Reuters
13 hours ago
- Automotive
- Reuters
Revolut to become title partner of Audi F1 team
LONDON, July 30 (Reuters) - British financial technology giant Revolut will become title partner of the Audi Formula One team from next season in a "monumental" multi-year deal, both parties announced on Wednesday. The fast-growing London-based fintech company was valued at $45 billion last year through a secondary share sale to new and existing investors. Swiss-based Sauber are becoming the factory Audi team in 2026, when Formula One starts a new engine era with major rule changes and an 11th team on the grid with the arrival of Cadillac. Jonathan Wheatley, principal of the Audi team, said the deal had been put together in less than four months and had obvious benefits for both sides. "If you imagine we need to engage with our fans, we need a partner that's going to help us do that," Wheatley told Reuters in a video call. "We need to expand hugely into this incredible global space that Formula One is in at the moment, and we need to become the most attractive team in Formula One." Wheatley said the deal reflected Audi's brand strength and was a "good news story for Formula One." "It's the Audi magnet that's drawing a lot of people here right now," he said, speaking from the team headquarters in Hinwil, Switzerland. Revolut has more than 55 million customers but has no physical branches. It gained a banking licence in Britain in 2024, after a three-year wait, and has global expansion plans. Antoine Le Nel, Revolut's chief marketing officer, gave no financial details of the F1 partnership but said the company was in for the long run with Audi and aiming for 100 million customers by 2027. He said Revolut had been looking for a platform to help the company build on its expansion. "I think we have a true opportunity to really bring F1 to a huge audience," he told Reuters. "From a retail perspective as well as a business perspective, I think there's going to be a lot of opportunities for us to connect the fan base to the sport through the Revolut platform." Le Nel said Audi taking on the established teams in Formula One was like Revolut competing against traditional banks. "If you look at Audi, very premium German brand dominating its market, it's where we want to be," he said. "It's a way for Revolut to elevate and get to where Audi has been for such a long time." Audi said Revolut Business would be extensively integrated into the team's financial operations. Sauber are sixth in the 10 team championship ahead of this weekend's Hungarian Grand Prix and have scored in their last five races. German driver Nico Hulkenberg celebrated his first F1 podium at Silverstone this month, finishing third in the British Grand Prix in a major boost for the team.
Newsweek
23-07-2025
- Automotive
- Newsweek
Red Bull's 2025 Form Shocks Former Director After Sauber Comparison
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Former Red Bull Racing sporting director Jonathan Wheatley has expressed surprise at the statistical findings comparing Red Bull and Sauber Formula One teams. Wheatley announced his Red Bull exit mid-2024 and joined Sauber this year as team principal, but little did he expect that things would turn around so quickly. Sauber has been undergoing several changes at many levels before Audi completes the full takeover of the outfit in 2026. The year is also a historical period for F1, given the new chassis and engine regulations that kick in for the first time in over a decade. The year will also mark the entry of automotive giant General Motors. GM's Cadillac F1 is gearing up to enter the grid next year as the eleventh team. But Audi has been revamping Sauber's operations since last year as Sauber continued to race in the premier class. The German marque appointed former Ferrari team principal Mattia Binotto as the chief operating officer and chief technical officer. Wheatley's Sauber joining this year completes the team's dual management structure. Given that managerial changes impact track performance, Sauber's chosen direction has yielded positive results thus far. Jonathan Wheatley, Team Principal of Stake F1 Team Kick Sauber in the Team Principals Press Conference during practice ahead of the F1 Grand Prix of Austria at Red Bull Ring on June 27, 2025 in... Jonathan Wheatley, Team Principal of Stake F1 Team Kick Sauber in the Team Principals Press Conference during practice ahead of the F1 Grand Prix of Austria at Red Bull Ring on June 27, 2025 in Spielberg, Austria. MoreThe Hinwil-based outfit finished last in the 2024 Constructors' Championship after having scored a mere four points. With twelve rounds ticked so far in 2025, Sauber is sixth in the championship with 41 points, a stark contrast to last year. Notably, Nico Hulkenberg contributed 31 points to the team's tally. An overhauled leadership and updated driver lineup, combined with timely upgrades on the C45 F1 car, have led to significant improvements. Surprisingly, Hulkenberg's points tally this season so far is higher than what Red Bull's second driver scored in the last eleven months. Max Verstappen has raced alongside three different teammates since the 2024 Dutch Grand Prix, namely Sergio Perez, Liam Lawson, and now Yuki Tsunoda. All three drivers collectively scored 28 points since the race in Zandvoort. When Wheatley was asked about the impressive turnaround in Sauber's performance, he told RacingNews365: "I would never have believed it possible. I know the quality of that operation. I know the talent of the people who are there. "It's interesting that when you leave one team for another, even a team competing for world championships and coming to a team aspiring to compete for world championships, there are things done better there, and things done better here. "That's the fascinating thing with this sport. There is so much talent in it." Wheatley is confident that Sauber is on the right path. He added: "Of course, Mattia and I, our job is to try to channel the team, direct it in the right direction, and get it moving in that direction. My feeling is the ship's turning, and we're starting to point the right way."
Yahoo
13-07-2025
- Automotive
- Yahoo
How Jonathan Wheatley wants Sauber to use F1 podium momentum in Audi transformation
Jonathan Wheatley says he is relishing the chance to carry Sauber's mid-season momentum into 2026, as the team transitions into the Audi Formula 1 outfit. Wheatley officially joined Sauber in April after leaving Red Bull and has already overseen steady improvements during his short tenure as team principal. Advertisement At the Austrian Grand Prix, Gabriel Bortoleto finished eighth and scored his first points in F1, while a major payday came at the British GP where Nico Hulkenberg claimed his first podium in 239 F1 starts by finishing third – marking Sauber's first podium since 2012. Wheatley says he is looking to build on that form as the team prepares for its transformation into an Audi-run operation next season. When asked by at the Goodwood Festival of Speed about the team's progress, he joked: 'I don't think I've achieved much, to be honest, except for a successful move to Switzerland! 'No, it's been wonderful working with the team. Obviously, Matteo [Binotto, Sauber's COO] put a huge amount of work in before I arrived, and so got the ball was rolling from that point. Advertisement 'It's been great to just absorb myself in the team and try to understand how it works, to add a little bit of guidance here and there, and now, when I sat on the pitwall at Silverstone, it really feels like it's coming together. Watch: Why Bortoleto Is Already Confident About Audi's 2026 F1 Potential 'My first race was Suzuka and the Japanese GP [in April]. I've done 10 races in 13 weeks or something like that. It's been it's been quite a period of time. I think from the moment we brought the first upgrade to the car, you could see the confidence in the drivers all of a sudden, they could push the car, they could string together consecutive qualifying laps, and it puts us in a position where we can maximise our advantage. 'There's a lot of work going on before I got here, and I don't want to stand here and take credit for things. It's a huge team at work here. They made the big steps in terms of equipment but also coaching confidence in the crew and things like pitstops, which are a manifestation of team spirit. When you see a team relaxed delivering good pitstops, that's a happy team.' Advertisement As F1 teams prepare for the biggest regulation change in its history with new chassis and engine rules, Wheatley knows that despite having Audi's backing the team faces a serious challenge in overhauling the traditional frontrunners. However, he says that challenge was what lured him away from Red Bull to join the Audi project, which he believes is one of the most exciting developments in F1. 'It was a year ago, almost to the day, where I had my job interview. I drove from here at Goodwood to Southampton Airport where I met with Audi and we discussed the project. I've been on the hook ever since,' he said. 'I grew up watching Audi Quattros smashing through the forest with flames coming out of the exhaust! Audi always did it differently and it's fantastic to be part of that journey. It is probably the biggest thing in our sport at the moment. The greatest good news story in sport. It's fantastic for F1 and everyone should be excited about it. Advertisement Oliver Hoffmann, Head of Technical Development at Audi Sport GmbH, with Markus Duesmann, Chairman of the Board of Management of Audi AG, with the new Audi Sport concept car Oliver Hoffmann, Head of Technical Development at Audi Sport GmbH, with Markus Duesmann, Chairman of the Board of Management of Audi AG, with the new Audi Sport concept car 'We have to be humble about the challenge that we face. It's going to be tough to get to the same level as the established teams, and to smash through that level requires a level of momentum. 'But I firmly believe we're going to be there. We're on the road already. We've put ourselves in a position where we were able to capitalise on some wet-weather situations. 'Very soon I'm going to have four rings on a shirt, and I'm going to be the happiest team principal in F1.' Read Also: Sauber opens new technology centre ahead of Audi F1 takeover To read more articles visit our website.
