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Posts Tagged ‘BMW Sauber’

Sauber Team Given Toyota’s Formula One Spot

Renault is rumored to be the next automaker to withdraw.

by on Dec.05, 2009

BMW Sauber 2009 F1 Car, Courtesy BMW AG

The spot is contingent on Sauber signing the Concorde Agreement that rules Formula One.

The Fédération Internationale de l’Automobile confirmed late last week that the Sauber Team would be given a starting grid slot next year, taking the place of the departing Toyota team.

The spot is contingent on Sauber signing the Concorde Agreement that governs Formula One racing.

BMW announced earlier this year it was withdrawing from the super expensive and controversial sport at the end of 2009. In November BMW sold the team back to its original founder Peter Sauber, when BMW rejected its previous plan to sell its 80% stake to an unknown Mideast investment group, Qadbak.

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BMW Sells Formula One Team Back to Sauber

One-third of workers are immediately sacked. Agreement is contingent on having a starting place for 2010 racing season.

by on Nov.30, 2009

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Whether a place on the grid is offered to Sauber remains to be seen, as the costly and scandal wracked business continues to be roiled by defections of major automakers.

BMW AG agreed to sell its 80% ownership in the BMW Sauber F1 Team to founder and former owner Peter Sauber at the end of last week.

The contract is subject to the team having a starting place for the 2010 Formula One season, which up to this point is unknown  because the sanctioning body, Fédération Internationale de l’Automobile, mistrusted the proposed mid-east financing of a restructured team. This previous announced deal from a murky mid-east based company called Qadbak Investment Ltd is now off.

Whether a place on the grid is offered to Sauber remains to be seen, as the costly and scandal wracked business continues to be roiled by defections of major automakers, among them Honda, Toyota, BMW and tire supplier Bridgestone. Renault is also said to be examining its costly participation.

Racing Views!

Racing Views!

Moreover, Ferrari, the unquestioned superstar marque of the series among fans, is apoplectic about one proposal to cut the obscene costs that are driving other makers away. It would see a spec engine replace the highly specialized, breathtakingly expensive, custom engines now in use. Ferrari’s entire marketing plan is based on its often-successful participation in Formula One, of course.

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