Volkswagen AG’s supervisory and management boards are backing plans for the company’s Audi and Porsche brands to join Formula 1 as early as 2026. 

Porsche and Audi, two of Volkswagen’s 12 car companies, have yet to make a final decision on joining the motorsport circuit but are expected to supply engines. The move has also been welcomed by F1 world champions Lewis Hamilton and Max Verstappen. 

Volkswagen and F1 align through an effort to promote sustainability. F1 plans to be carbon neutral by 2030, while Volkswagen aims to be carbon neutral on its balance sheet by 2050, which includes vehicles, plants, and processes. F1 is implementing new engine rules in 2026, which will require all power units to run on 100% sustainable fuel.

Audi and Porsche would join separate racing teams in Formula 1. 

• Porsche is pursuing a partnership with Red Bull Racing.
• Audi is expected to join McLaren’s racing team. 

Last week, Audi reportedly raised its offer to buy a stake in McLaren’s F1 unit from $495 million to $718 million, according to a report by Germany’s Automobilwoche.

Perfect Timing 

Formula 1 is seeking upward of $75 million per year for its U.S. media rights, according to a Sports Business Journal report. ESPN has held F1 rights since 2018 and is currently paying roughly $5 million per year on a deal that runs through this year.

ESPN is likely to renew, but Formula 1 has drawn interest from several broadcasters.

New York will provide $600 million toward a new stadium for the Buffalo Bills, despite objections from several state representatives.

The legislature agreed to a conceptual framework for a $220 billion budget, including the stadium subsidy. The budget had been due on April 1, but lawmakers passed a one-week stopgap measure to allow additional negotiating time.

The state will pay most of its portion for the stadium from a gambling revenue settlement with the Seneca Nation, plus $172 million in new funding.

• In addition to the state funding, Erie County will chip in $250 million.
• NFL owners will provide a $200 million loan, which will be repaid from visiting team ticket revenue. The team must at least match that amount.
• Additional maintenance and upgrade funds will push the total public funding amount over $1.1 billion over the next 30 years.

Bills owners Kim and Terry Pegula will cover $350 million plus any cost overruns. They plan to generate most of that sum through a personal seat license program in which fans will have to pay a one-time fee of around $1,000 for the right to purchase season tickets.

Mixed Reviews

A recent poll found that 55% of New York residents disapprove of the public funding arrangement, compared to 22% in favor.

Several state legislators, including senate finance committee chair Liz Krueger, echoed that sentiment.

“It’s just a mind-boggling amount of public money into a private sports stadium owned by a family of billionaires who can certainly afford to pay for it themselves,” Krueger said.

On April 4, Ontario announced it would allow several new forms of sports betting after a federal law officially lifted the ban in June 2021. 

The province consists of more than 14 million people, and CBC projects that it could rake in a projected $800 million in revenue.

The NHL didn’t waste any time taking advantage of the new opportunity, either. On Thursday, the league announced two of its current sports betting partners, FanDuel and BetMGM, have extended their services to Canada. 

• The deals make the two companies the NHL’s first “North American sports betting partners.”
• They will include signage, in-person activations, and “custom content” on NHL media.

Keith Wachtel, NHL chief business officer and senior executive vice president, called Canada’s new sports betting landscape “a tremendous opportunity to further fan engagement and continue our progressive approach with the sports gaming industry.”

“Multiple” sportsbooks set up shop in Ontario on April 4, according to CBC. Previously, only parlay bets and horse racing wagers were allowed in the area.

Players Cashing In

The NHL isn’t alone in benefiting from Ontario’s new betting regulations. 

The Toronto Maple Leafs’ Auston Matthews and Edmonton Oilers’ Connor McDavid have inked deals with Bet99 and BetMGM, respectively. Wayne Gretzky also promotes BetMGM.