Sauber Buys Team Back From BMW
Peter Sauber has announced that he has purchased his old Formula One team back from BMW.
The businessman sold his successful team to the German car manfuacturer at the end of 2005, and the team achieved some success with Sauber staying on board. His name stayed on the cars too. However with BMW pulling out of the sport, the future of the team remained uncertain.
Qadback Investments Group wanted to buy the team, but their financial dealings are under scrutiny, and Peter Sauber stepped in to get his old team back.
The whole deal is built on whether or not they get the final grid slot, which is yet to be decided, as Toyota have pulled out of the sport.
“We are very happy with this solution,” said Dr Klaus Draeger, Member of the Board of Management of BMW AG. “This fulfils the most important requirement for a successful future for the team.
“Our relationship with Peter Sauber has always been excellent and marked by absolute respect. We would like to express our thanks to Peter Sauber and the whole team for the excellent cooperation during the recent four years.”
Peter Sauber added; “I am very relieved that we have found this solution. It means we can keep the Hinwil location and the majority of workplaces. I am convinced that the new team has a very good future in Formula One, whose current transformation with new framework conditions will benefit the private teams.
“Our staff here are highly competent and motivated, and I look forward to taking on this new challenge together with them. I would like to thank BMW for four shared years that have in the main been very successful.”
We at The F1 Fanatics Blog are really happy about this, Sauber were a great team and we can just hope they make the 2010 grid!