Revolut to become title partner of Audi F1 team
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
26 minutes ago
- Straits Times
Lions coach Farrell says Wallabies will be a force to be reckoned with
SYDNEY - British & Irish Lions coach Andy Farrell said a Wallabies revival was on its way and reiterated his view that it was insulting for people to suggest that they might not be strong enough opponents for a touring Lions side. After taking the Lions close in Melbourne last week, the Wallabies handed the visitors their only loss of their nine-match tour of Australia on Saturday with a convincing 22-12 victory in Sydney. Farrell had no complaints about the defeat, even if it cost his side a 3-0 series sweep, and he thought the Wallabies could be a real power when they host the World Cup in 2027. "I said to (Australia coach) Joe (Schmidt) before the game there on the pitch, that I think special things are going to happen for this team over the next 18 months," Farrell told a post-match press conference. "By the time the World Cup comes around, they'll be a force to be reckoned with, like everyone's seen in the past, they've got some special athletes and some special players, and that's no surprise to us after how they performed over the last couple of weeks." A decade of struggles on and off the pitch have knocked Australia down the pecking order in the rugby world and the twice world champions made a pool stage exit at the World Cup for the first time in 2023. Farrell, though, scoffed at the idea that they were no longer worthy of their place in the Lions touring cycle along with New Zealand and South Africa. Top stories Swipe. Select. Stay informed. Singapore Police reopen access to all areas in Marina Bay after crowd congestion eases at NDP Preview area Singapore Opening of Woodlands Health has eased load on KTPH, sets standard for future hospitals: Ong Ye Kung Singapore $3b money laundering case: MinLaw names 6 law firms taken to task over involvement in property deals Asia KTM plans new passenger rail service in Johor Bahru to manage higher footfall expected from RTS Singapore HSA investigating teen allegedly vaping on MRT train Asia 4 workers dead after falling into manhole in Japan Singapore New vehicular bridge connecting Punggol Central and Seletar Link to open on Aug 3 Singapore New S'pore jobs portal launched for North West District residents looking for work near home "We all know how hard it is to be successful on the Lions tour against a good side like Australia, and they are a good side, and they proved that over the series," he said. "I mean, everyone has their ups and downs. I've looked at the progress over the last 18 months. It's been through the roof and you look at that side that's been out there over the last ... three weeks, they're a hell of a team." Asked about whether he was disappointed not to make it a clean sweep by winning Saturday's final test, Farrell said there were obviously frustrations. "Like we've said all along, that we wanted to win every game, and rightly so, but the best team won on the night today," he said. REUTERS
Straits Times
2 hours ago
- Straits Times
Wallabies restore pride with third test win over Lions
SYDNEY - The Wallabies restored some pride by finally producing an 80 minute performance to beat the British & Irish Lions 22-12 in a weather-disrupted third test on Saturday, handing the visitors their only loss of their nine-match tour of Australia. Dylan Pietsch and Max Jorgensen scored tries either side of a 40-minute delay for a lightning warning, and Tate McDermott added a third late on to ensure Australia would not be swept 3-0 by the Lions for the first time since 1904. "So proud," said Wallabies captain Harry Wilson. "Such a tough loss last week and to bounce back with an 80 minute performance, I'm so proud of everyone. The crowd today was unbelievable and so proud to get the win. "We just wanted this game so badly." Jac Morgan and Will Stuart scored tries for the tourists, who had secured series honours for the first time since their last visit to Australia in 2013 by winning the first two tests in Brisbane and Melbourne. "Our goal before the series was to try to win 3-0 and we gave it everything in harsh circumstances," said Dan Sheehan, who took over as Lions captain after Maro Itoje went off with concussion. "But the Wallabies have been in every game we've played against them and I think they deserved the game tonight. It's just a bit disappointing on our end to finish on this disappointment." Top stories Swipe. Select. Stay informed. Singapore Opening of Woodlands Health has eased load on KTPH, sets standard for future hospitals: Ong Ye Kung Singapore Police close access to some areas in Marina Bay due to large crowds Singapore $3b money laundering case: MinLaw names 6 law firms taken to task over involvement in property deals Asia KTM plans new passenger rail service in Johor Bahru to manage higher footfall expected from RTS Singapore HSA investigating teen allegedly vaping on MRT train Asia 4 workers dead after falling into manhole in Japan Singapore New vehicular bridge connecting Punggol Central and Seletar Link to open on Aug 3 Singapore New S'pore jobs portal launched for North West District residents looking for work near home Rain had been pouring down all day and the match started in front of a crowd of 80,213 in conditions more familiar to the nine Irishmen in the Lions team than the Wallabies. It was the home side who struck first in the eighth minute, however, when winger Pietsch scored in the corner after the Lions had repelled the Australian forwards despite intense pressure under the posts. The Lions got back down the other end after a raking kick to touch from Finn Russell in the 12th minute but elected to tap a penalty under the posts and the Wallabies snuffed out the danger. Given the rain, territory was always going to be at a premium and kicking duels studded the next period of play until the Wallabies got some continuity off the pick-and-go to put more pressure on the Lions' try line. A rolling maul from an attacking lineout was neutered and several other thrusts pushed back before the Wallabies elected to kick a penalty in the 34th minute, flyhalf Tom Lynagh converting in his last act before going off with concussion. Lions lock James Ryan had to be carted off the field on a stretcher after taking a knee to the head in a tackle early in the second half, triggering another of a series of scuffles that had punctured the match. The lengthy delay for Ryan's treatment was extended by a 40-minute suspension of play for a lightning warning, causing the players to head back to the dressing rooms and the evacuation of the lower tiers of the stands. EMPTY THE TANK Australia started well after the delay with prop Taniela Tupou charging towards the try line only to drop the ball and then compound his error by being penalised at the subsequent scrum. Jorgensen made no mistake when he pounced on a loose ball in the 55th minute, though, the winger tip-toeing down the touchline to extend the lead to 15-0. The Lions had trailed 23-5 after half an hour in Melbourne last week before coming back to win with a last-minute try, so the massed ranks of Lions fans were not giving up on their team just yet. Wales captain Morgan got them on the scoreboard with a try from close range in the 62nd minute after the Lions had again turned down three points in front of the posts. The Wallabies charged down the other end, though, and replacement scrumhalf McDermott forced his way over the line in the 71st minute to extend the lead to 22-7 soon after Lions hooker Ronan Kelleher had been sent to the sin bin. The Lions had promised to empty the tank in their final match and they were true to their collective word with replacement prop Stuart forcing his way over the line in the final seconds. REUTERS
CNA
3 hours ago
- CNA
Jaiswal and Deep extend India's lead
LONDON :India opener Yashasvi Jaiswal and nightwatchman Akash Deep shared a stubborn century partnership to frustrate a toothless England attack on the third day of the fifth test at The Oval on Saturday. The touring side, needing victory to draw the series 2-2, had moved on to 189-3 at lunch under murky skies, a good lead of 166 runs with England's callow seamers looking bereft of ideas and inspiration. Deep fell for 66 just before the interval to end a stand of 107 with Jaiswal who was unbeaten on 85 alongside his captain Shubman Gill on 11. Missing the experience of Ben Stokes, Jofra Archer and Chris Woakes due to injury, England's pace bowlers struggled to extract much movement off the pitch. Deep, on 21, was spilled by Zak Crawley in the slips off Josh Tongue, England's fourth dropped catch of the innings, and stand-in captain Olly Pope looked bereft of ideas. Under the floodlights, Deep reached his first test fifty off 70 balls by whipping Gus Atkinson neatly through square leg for his ninth boundary before gleefully pumping his fists in celebration. Jamie Overton finally removed Deep with a ball that lifted sharply and looped up to cover where Atkinson ran in quickly to take a low catch, but even that did little to cheer a subdued home crowd.
