Owning a Formula One team could be the next step for Saudi Arabia after sponsoring the sport and hosting a grand prix, according to the chairman of the kingdom¡¯s automobile and motorcycle federation.

Prince Khalid bin Sultan al-Abdullah al-Faisal told reporters in a video call ahead of this weekend¡¯s race in Jeddah that the interest was there.

¡°It could happen, it could happen soon if you see the growth (of the sport),¡± he said.