At the Frankfurt Auto Show, we learned that BMW has found a buyer for the Sauber Formula 1 Team. Here is the short press release below:
BMW AG, based in Munich, Germany, is pleased to announce today that Qadbak Investments Ltd, a Swiss-based foundation which represents the interests of certain Middle East and European based families, has agreed to purchase the BMW Sauber F1 Team, based in Hinwil, Switzerland. The contract was signed today (Tuesday).
A strong investor has therefore been found for the Hinwil-based team. Qadbak´s interest in the team will be represented by Lionel Fischer, a Swiss national.
BMW wishes Qadbak and the Sauber Team every success for the 2010 season and beyond.
6 Responses to “BMW finds a buyer for the Sauber Formula 1 Team”
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Let me guess. . . They’re going to run Honda engines? ;-)
I don’t think the future of this Sauber team is great without the backing of a car manufacturer. I mean, who supportsBrawn GP? What is Brawn GP??? I would understand if it is something that we can relate to in everyday life on our roads such as BMW, Merc, etc…. This is defeating the whole purpose of the motorsport and these “no-name” teams add no value
Brawn is MB-powered, and doing pretty damn well despite not having a factory backing them.
F1 is not NASCAR. It’s not meant to convey street-driven cars (although NASCAR has long-since left its roots and began racing tube-chassis cars with composite bodies shaped like Ford Tauruses). It’s a technological test bed. It’s R&D. It’s money.
There have been PLENTY of non-factory-backed racing teams in the history of motorsports that have done exceptionally well. I’d say the majority of the teams in professional motorsports are, in fact, not financially supported by an automaker.
Sauber will survive but without BMW contribution to it. They annouced that they will switch BMW’s engines on Ferrari’s.
[...] you recall, BMW will exit the Formula 1 championship at the end of this year and a new buyer for the Sauber team has been [...]
[...] you recall, BMW will exit the Formula 1 championship at the end of this year and a new buyer for the Sauber team has been [...]