(Bloomberg) -- Audi acquired a minority stake in the Formula 1 team Sauber Group this month as part of the Volkswagen AG premium brand’s bid to join the racing circuit in 2026.

Audi, which announced the plan in October, declined to comment on the size or price paid for the stake. As part of the transaction, Audi’s general manager for technical development Julius Seebach will join Sauber’s board of directors, a spokesperson said Monday. Audi said the carmaker will build out its collaboration with Sauber while respecting the Swiss team’s contracts with other partners.

VW gave Porsche and Audi the green light to pursue separate F1 entries after speculation swirled for months about the brands entering into the sport dominated by Mercedes-Benz AG. Audi’s decision to partner with the veteran Swiss racing team was the result of more than a year of talks that also centered on McLaren Group.

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