Sauber sale confirmed

Clean F1 Team had no other solution. The structure ofHinwil confirmed its takeover by the Swiss company Longbow Finance SA after finding itself in an unviable economic situation forcing it to file a complaint with the FOM concerning team remuneration. The team had difficulty paying its staff and had to resort to paying drivers to stay on the grids.

Longbow Finance SA will acquire all the shares of Sauber Holding AG. The press release confirms that the desire of the new owners will be to perpetuate the future of the team by retaining the name Sauber F1 Team by developing the group's engineering activities.

Peter Sauber, the founder of the team of the same name, will leave his position and give way to Pascal Picci, the managing director of Longbow Finance SA “Monisha (Kaltenborn) and I signed an agreement yesterday which guarantees the future of the F1 team and the Sauber Group”, assures the businessman.

On the other hand, Monisha Kalternborn, the Team Principal of the team, will remain in post. “We are convinced that Longbow Finance SA is the ideal partner to make the team competitive again in F1. This new structure will finally allow us to develop and market our know-how. This solution is the best in the interest of employees, partners, the factory and Swiss motorsport. We thank Longbow Finance SA for believing in our skills and we are preparing for an exciting new future. »