AGREEMENT REACHED ON SALE OF BMW SUBER TEAM

Qadbak Investments Ltd, a Swiss-based foundation which represents the interests of certain Middle East and European based families, has agreed to purchase the team, based in Hinwil, Switzerland. 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,” said BMW in an official statement announcing the deal.

The recent uncertainty surrounding BMW Sauber’s future means they do not have a confirmed entry for next season. However, the FIA has said it will be pressing for a 14-team field in 2010, with BMW Sauber guaranteed the final slot if the necessary rule changes can be agreed. f1

Sauber looks to keep F1 team afloat, and Nelson Piquet, former three times F1 Word Champion will be interested!

Peter Sauber, founder of the BMW-Sauber team, who still owns 20 per cent of the team after selling a majority stake to BMW in 2005, has ruled out a personal return to the role of team principal, but, has vowed to use his contacts to help secure a sale of the team to a backer who will keep it running.

“I will do everything humanly possible, I can’t do wonders and I certainly don’t want to be team boss on the pit wall again. The problem is that time is short and we need to find a solution quickly. I’ve told all my people that I will use all my contacts, but I cannot guarantee anything. I am an adviser to BMW, but ultimately only it can decide how to drive it forward.” Sauber said.


Brazilian newspaper O Globo claims that retired driver Nelson Piquet, is considering a buy-out of the team in collaboration with Super Nova GP2 team chief David Sears.