Audi on Friday announced that it is taking a 100% stake in the Sauber F1 team in preparation for entering F1 in 2026.

The automaker announced plans to enter F1 for the 2026 season as both a constructor and power unit supplier in 2022, and bought a stake in Sauber at the start of 2023. In a press release, Audi said it has now reached an agreement with current majority shareholder Islero Investments AG to completely take over the team, something that was hinted at in a March report.

Andreas Seidl, who joined Sauber from McLaren in 2023, will continue as CEO of the newly rebranded Audi team. Seidl will serve as “the face of the future Audi Formula 1 Team,” the automaker said.

Current Audi technical boss Oliver Hoffman will also step down from his current role on the automaker’s management board to become chairman of Sauber’s board of directors, in addition to a position on the board of Audi Formula Racing GmbH, the company created to oversee power unit development and other aspects of Audi’s F1 program beyond the day-to-day running of the team. Hoffman was previously head of Audi Sport, overseeing DTM and Formula E programs.

Sauber will serve as Audi’s factory team and will continue to operate out of its current base in Hinwil, Switzerland. The site has its own wind tunnel, which is unusual for a relatively small F1 team like Sauber.

Sauber is one of F1’s longest-existing independent teams, entering the series in 1993. This won’t be the first time the Swiss team has partnered with a manufacturer, though. It was initially backed by Mercedes-Benz, which previously partnered with Sauber in a successful sports-car program. It was also owned by BMW from 2006 to 2009, scoring its only win during this period. And it was branded as Alfa Romeo from 2018 to 2023.