BMW Sells F1 Team Back To Founder Peter Sauber

A solution has finally been found to BMW's F1 team ownership dilemma, days after announcing that the sale to Qadbak Investment Ltd has collapsed. BMW has sold the F1 team back to Peter Sauber, the founder of the team, provided “that the team has a starting place for the 2010 Formula One season”, an official statement from BMW said.

“I am very relieved that we have found this solution. It means we can keep the Hinwil location and the majority of workplaces”, Sauber said, “I am convinced that the new team has a very good future in Formula One”.

Inevitably, however, the change of ownership means the streamlining of human resources: the number of employees will be cut from 388 to around 250, with more staff to be axed if deemed necessary down the road.

Since announcing its withdrawal from F1 earlier this year, BMW has faced difficulties in finding a buyer for the team. Even with this sale, the F1 future of the team remains unclear, as the FIA has yet to confirm its grid slot and eligibility for next season.

AboutSeow Yaohan

Seow Yao Han strives to bring you the latest and the most comprehensive information on cars available in Malaysia. But it's never easy for him to talk and write cars in this part of the world because what you lust after is often not what you drive home. When the euphoria of test-driving that branded, super-expensive sports car dies down, he just goes home in his less-than-glamorous ride.