F1 News, Views and Reviews

Bernie Ecclestone Teams With Renault’s New Owners To Buy Saab

Bernie Ecclestone, the owner of the Formula One brand has joined forces with the new owners of the Renault Formula One Team, Genii Capital, with a bid for the struggling Swedish car manufacturer Saab.

Saab, a purveyor of luxury saloons and some fantastic concept cars have been owned up until now by General Motors.  However in their “slim down” of assets following the economic crisis they are looking to sell the brand.

Ecclestone, who has a net worth of nearly $4billion, owns the Queens Park Rangers football club in London along with Flavio Briatore and Lakshmi Mittal, the metal baron.  He appears to want to add Saab to his portfolio.

“It’s a good brand that has probably been neglected by the current owners,” Ecclestone, 79, said in a phone interview late yesterday.

“We don’t own it yet, so let’s see what happens.”

Spyker, a former F1 team and maker of very exclusive and luxury sportscars in the Netherlands such as the C8 Laviolette were considered to have almost signed a deal to buy the company, despite themselves struggling with finances and low sales.  An unnamed Swedish company are also said to be in the running.

Hypercar manufacturer Koenigsegg, the makers of the CCX-R one of the world’s fastest cars had penned a deal with GM a few months ago, but boss Christian Koenigsegg pulled out of the deal with moments to spare.

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One response

  1. Tad

    Hopefully they can actually go through with it – I like Saabs!

    January 8, 2010 at 4:36 pm

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