Peter Sauber takes over BMW

Peter Sauber, founder of the Hinwil team and who sold most of the shares to BMW in 2005, bought the team following the lack of guarantees from Qadbak Investments.

Published on 27/11/2009 à 12:10

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Peter Sauber takes over BMW

Peter Sauber therefore returns directly to business. The Swiss, when he learned of the withdrawal from BMW, had worked hard to ensure the future of his former team. Finally, BMW announced this Friday that it had reached an agreement with Peter Sauber himself for the purchase of the team. This means that the sale initially planned with Qadbak Investments will not take place.

« I am very relieved that we found this solution, comments Peter Sauber. This means that we can keep the facilities of Hinwil and the majority of workplaces. I am convinced that the new team has a very good future in Formula 1, whose current development will benefit private teams. Our staff here is very knowledgeable and motivated, and I look forward to taking on this new challenge with them. I would like to thank BMW for these four shared years which have been, overall, a success. »

En revanche, BMW annonce que ce rachat ne sera effectif que si la future entité obtient sa place sur la grille de départ de la prochaine saison. Le message sera bien reçu par la FIA, qui n?a toujours pas confirmé l?écurie d?Hinwil pour 2010, malgré le retrait annoncé de Toyota.

The team will, in any case, have to lay off staff. From 388 currently, the future entity will have 250 employees and Peter Sauber and does not rule out additional layoffs.

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