Peter Sauber and Mario Thiessen trying to save BMW  Sauber Team

BMW Sauber Talks break down

by F1Fan on August 6, 2009

BMW has not yet found an acceptable offer to save the BMW Suaber F1 Team. Peter Sauber the 20% minority owner had been in discussions with BMW and hoped to have agreed terms in time for him to sign the new Concorde Agreement by the wednesday deadline ensuring the teams future.

Peter Sauber

Peter Sauber

Following the breakdown in negotiations Peter Sauber confirmed the situation to Autosport:

“Following the announcement by BMW that it will be pulling out of Formula 1 at the end of the 2009 season, I tried to launch a takeover and rescue of the team, however, the negotiations with BMW have failed because the demands were simply far too high for me. Consequently, I have been unable to sign the Concorde Agreement, which guarantees payments worth millions and would have secured the future of the team.

I am incredibly disappointed and disconsolate, for me this is the bitterest day in my 40-year career in motor sport. It is also a devastating setback for the team.

Other solutions must now be sought. The responsibility for that lies in the hands of BMW. Needless to say, I am willing to help, as before.”

Mario Thiessen

Mario Thiessen

BMW Motorsport Director Mario Theissen also confirmed the situation in a statement released today, although he painted a somewhat brighter picture claiming, that the Team were still hoping that a solution could be found with Peter Sauber and other interested parties.

“Since the announcement on 29 July of our strategic realignment,
we have done everything in our power to reach a rapid agreement on the
sale of the team based at Hinwil.

Regrettably, despite every effort, this has proved unsuccessful. The tight timeframe we faced simply did not allow us and the interested parties and investors enough time to find a solution for such a complex transaction.

This means the team cannot sign the Concorde Agreement at present. The aim now is, over the coming weeks, to find a solution together with potential
interested parties and Peter Sauber.

Beyond that, we will see the 2009 season through to its conclusion with our unstinting sporting commitment.”

So their still maybe some light at the end of the tunnel lets hope that BMW’s with drawl does not end the Sauber Team’s long involvement in Formula One.

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