Long time Privateer Peter Sauber buys back his old team from BMW.
11-27-2009, 04:37 PM
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Long time Privateer Peter Sauber buys back his old team from BMW.
Sauber buys team back from BMW
27 November 2009
BMW has revealed that it sold its Formula 1 team back to former owner Peter Sauber on Thursday. As a deal with Swiss investments firm Qadbak was apparently not fully completed, the Sauber name is now likely to return to the sport next season.
BMW left Formula 1 after 70 Grands Prix
With Sauber having been bought by BMW at the end of 2005, Swiss businessman and former team owner Peter Sauber remained a shareholder of the Hinwil outfit, which had seemingly been purchased this year by Qadbak; with that deal supposedly not fully confirmed, though, the Sauber name could now be back on the grid as a team in 2010.
"I am very relieved that we have found this solution," Peter Sauber commented. "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 1 whose current transformation with new framework conditions will benefit the private teams.
Sauber was last present at the 2005 Chinese Grand Prix
"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."
'A further agreement with Peter Sauber proposes personnel cuts from the current level of 388 to around 250 employees,' BMW's Friday statement reads, with more job cuts being possible at a later date. 'The restructuring of the team and compliance with future framework conditions have made this essential. Notices of redundancy have therefore been issued today. BMW AG regrets the need for these personnel cutbacks and will support the restructuring.'
With Toyota's departure having left the final 13th entry free, a return for the established Sauber would confirm a 26-car grid for 2010.
27 November 2009
BMW has revealed that it sold its Formula 1 team back to former owner Peter Sauber on Thursday. As a deal with Swiss investments firm Qadbak was apparently not fully completed, the Sauber name is now likely to return to the sport next season.
BMW left Formula 1 after 70 Grands Prix
With Sauber having been bought by BMW at the end of 2005, Swiss businessman and former team owner Peter Sauber remained a shareholder of the Hinwil outfit, which had seemingly been purchased this year by Qadbak; with that deal supposedly not fully confirmed, though, the Sauber name could now be back on the grid as a team in 2010.
"I am very relieved that we have found this solution," Peter Sauber commented. "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 1 whose current transformation with new framework conditions will benefit the private teams.
Sauber was last present at the 2005 Chinese Grand Prix
"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."
'A further agreement with Peter Sauber proposes personnel cuts from the current level of 388 to around 250 employees,' BMW's Friday statement reads, with more job cuts being possible at a later date. 'The restructuring of the team and compliance with future framework conditions have made this essential. Notices of redundancy have therefore been issued today. BMW AG regrets the need for these personnel cutbacks and will support the restructuring.'
With Toyota's departure having left the final 13th entry free, a return for the established Sauber would confirm a 26-car grid for 2010.
11-27-2009, 05:26 PM
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11-27-2009, 05:39 PM
#4
I haddah Google dat
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I say good for Peter Sauber. I only hope that he gets an engine and some new sponsors.
Peter Sauber recognized Kimi Raikkonen's talent, and brought him in despite much skepticism. He also chose to build his factory in Switzerland, his homeland, despite much higher costs there. He brought Mercedes into F1 as well, but lost them to McLaren. I always thought of him as one of the more prescient team principles, although not as flashy as Briatore or Eddie Jordan. He is fond of cigars, and my favorite pictures of him are the ones where he is smiling and either holding or smoking a cigar.
Peter Sauber recognized Kimi Raikkonen's talent, and brought him in despite much skepticism. He also chose to build his factory in Switzerland, his homeland, despite much higher costs there. He brought Mercedes into F1 as well, but lost them to McLaren. I always thought of him as one of the more prescient team principles, although not as flashy as Briatore or Eddie Jordan. He is fond of cigars, and my favorite pictures of him are the ones where he is smiling and either holding or smoking a cigar.
Last edited by rusnak; 03-05-2010 at 12:06 AM.
11-27-2009, 08:53 PM
#5
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what does he do in order to be able to purchase that team? May be F1 will return to one of the best forms of racing.
11-27-2009, 08:54 PM
#6
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Peter Sauber is one of the few true gentlemen left in F1. I'm glad to see him back in control. I’m curious to know the financials. I suspect that BMW gave him the team back just to put the Qadbak debacle behind them fast.
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11-29-2009, 10:36 PM
#8
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I'm glad that Peter has his old team back. Now I just hope he can have better success than BMW experienced this season.
