F1 team ‘on brink of collapse’ forced to keep driver after ‘miscalculation’ – report

Mercedes driver George Russell leads the field at the start of the 2024 British Grand Prix

Zhou Guanyu was retained by Sauber for the F1 2024 season after a “small miscalculation” left Audi’s F1 2026 entry “on the brink of collapse.”

That is the astonishing claim of former F1 driver Ralf Schumacher, who says the team “had to be refinanced” to help plug a hole of €1billion.

Ralf Schumacher: Audi F1 project was ‘on brink of collapse’

Audi, who will take over the existing Sauber team in time for F1’s big 2026 regulation changes, announced significant management movement on Tuesday with F1 head Andreas Seidl and chairman Oliver Hoffmann removed.

Former McLaren team principal Seidl has been replaced by ex-Ferrari boss Mattia Binotto, who will assume the dual role of chief operating and chief technical officer.

It comes after months of speculation that Seidl and Hoffmann were embroiled in a behind-the-scenes power struggle at Audi, which risked overshadowing the German manufacturer’s preparations for their F1 2026 arrival.

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Schumacher, the six-time grand prix winner and brother of seven-time World Champion Michael, has claimed that Audi’s F1 plans have been hit by more serious problems, with a “small miscalculation” resulting in a massive financial hole.

That, he says, forced the team to keep Zhou, who became F1’s first full-time Chinese driver in 2022 and is known to bring significant financial backing as Valtteri Bottas’s team-mate for the F1 2024 season.

Reports from Germany last month claimed that Zhou and his sponsors had failed with an offer in excess of €30m to convince Haas to sign him for next season, with the team instead keen on finalising their preferred F1 2025 driver lineup of Oliver Bearman and Esteban Ocon.

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 €1billion. At least that’s the rumour.

“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 went on to claim that Binotto is facing “a huge task” at Audi with the management changes a bad sign with fewer than 18 months before the German manufacturer arrives in F1.

He said: ‘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.”

It has been claimed that Binotto’s arrival could enhance Audi’s hopes of signing long-term target Carlos Sainz, with the Spaniard signed by Binotto as four-time World Champion Sebastian Vettel’s replacement at Ferrari in 2021.

Sainz went on to claim the first of his three career victories to date under Binotto at the 2022 British Grand Prix before the team principal resigned from his role at the end of that season.

Schumacher believes Binotto’s relationship with Sainz could give Audi the advantage of the likes of Williams, Alpine and Mercedes in the fight for the outgoing Ferrari star’s signature.

He added: “[Binotto] is a staunch fan and also a friend of Carlos Sainz.

“That could also have been political in the background. that they say: ‘Well, we would like to have this person and this person to support us.’

“The two know each other from Ferrari and really enjoyed working together. That’s probably where the wind is blowing from.”

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