Saudi Arabia builds $480M F1 track near Riyadh

Saudi Arabia is investing $480 million in a new "Rainbow Road" Formula 1 track, Qiddiya Speed Park, set to open in 2027. This reflects the country's growing commitment to the sport. The new track, located near Riyadh, aims to host races and potentially the season opener. Saudi officials also expressed interest in buying an F1 team, highlighting their ambitions in motorsport. This investment follows Saudi Arabia's existing 10-year sponsorship deal with Aramco and the ongoing Jeddah race. The country's involvement in F1 is expected to continue.