Prince Khalid bin Sultan Al-Abdullah Al-Faisal, chairman of the Saudi Automobile and Motorcycle Federation, has revealed that a Saudi-owned F1 team could be on the horizon.
While talk of buying the sport has died down, the Saudi Public Investment Fund (PIF) has, in recent years, invested heavily, be it in acquiring a stake in McLaren or Aston Martin, albeit the car manufacturer currently looking to sell its stake in the F1 team that carries its name.
Awash with cash, and, according to Nielsen Sports, witnessing a significant increase in interest in the sport, particularly among females - ironic when one considers they weren't even allowed to drive until recently - Saudi Arabia is looking to take the next step.
"I mean, there is a space available," Prince Khalid told reporters in a video call ahead of this weekend's race in Jeddah. "There are only 11 out of 12 and also potentially one or two teams that might be for sale in the future. I mean, it could happen."
Despite claims that its move into F1, as with various other sports, is about improving its global image, or "sports-washing" as it is known, Prince Khalid insists that such a move would be about business.
"If you're going to buy a Formula 1 team, then people will buy it to make money out of it, especially if it's going to be bought by one of the PIF companies," he said.
"We see there is a lot of Formula 1 now reaching new markets, the sales are globally increasing, and we saw the partnership with Aramco and Aston Martin," he added.
Alpine, the team most likely to be snapped up, was valued at around $900m (£677m) in 2023 when an investor group bought a 24% stake for $200m (£150m), however there remains serious doubt about the true value of the Enstone-based outfit, despite Zak Brown's claim that all the teams are worth "well north of £1bn ($1.3bn)".
"All directions say that maybe soon Saudi can, if they see if it's feasible, if it makes sense, then why not?" said Prince Khalid. "I mean, nobody dislikes making money. So if you can make money out of Formula 1, I think it's very tricky. You need to know exactly which team to buy and who to partner with and who will manage this.
"The decision is very difficult," he admitted. "It's not easy to say which team to buy and how you're going to manage it. But we have a lot of interest; we're hosting Formula 1, sponsoring teams...
"So I wouldn't be surprised if we see an announcement for a Saudi team and personally, I would like to see a Saudi team. But if I'm in Saudi Arabia or one of the Saudi companies will be involved in one of the teams, I would like them, I mean, to do it the right way and be successful. So it's a tricky question, but why not?"
As recently as early 2019, Ross Brawn, in his role as a director for F1, denied the possibility of a Saudi Grand Prix, due to the country's record on human rights and the unrest of the previous year.
Two years later Saudi Arabia hosted its first race. Now, other than the Jeddah track, it is constructing the circuit at Qiddiya which is intended to redefine the motor sport experience.
Indeed, looking ahead, Prince Khalid is eyeing Qiddiya as host to the all-important season opener.
"This is something that we would like to have," he admitted. "But I know that Formula 1, they have commitments. For them, maybe sometimes it's easier for Bahrain to be the opening season because of the testing. There's a lot of things that you consider. But for us, we would like to have the first race.
"It's the weather," he added. "We have a very short gap. Either it's going to be at the end of the season, which some people don't like it to be at the end of. If it's in the middle of the season, it's too hot. So that's why we decided... and we know that Qatar and Abu Dhabi, they are at the end of the season.
"So the only option we have is with Bahrain and for us, we are fine with that. We like to be at the beginning of the season. Next year, ideally for us, is in the beginning of the season. Maybe race one or race two. That's the ideal situation for us and our weather here.
"Even in terms of sales, for us here in Saudi, the beginning of the season, it's better for us. People are more excited. Domination doesn't help the championship, but hopefully things will change this year and next year."
At a time the sport "proudly" welcomes an "official pasta partner", make no mistake that Liberty is intent to monetise every single aspect of F1, absolutely everything has a 'for sale' sign on it, and, much like those heady days in the 1970s and early '80s, eyes are peering out of windows and fingers are excitedly poised over the tills as the Saudis roll into town.
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