BMW Sauber at Monza

BMW finds Buyer for F1 Team

by F1Fan on September 15, 2009

Timing is everything, almost at the same time as the FIA announced that the 13th position on the grid for the 2010 season would be given to Lotus F1 Team, BMW AG announces that it has reached agreement with an investor on sale of the BMW Sauber F1 Team, who knows if this news had happened just a few days earlier maybe the BMW Sauber Team would have the guaranteed 13th slot.

15.09.2009Press Release
Munich/Hinwil, 15th September 2009. BMW AG, based in Munich, Germany, is pleased to announce today that Qadbak Investments Ltd, a Swiss-based foundation which represents the interests of certain Middle East and European based families, has agreed to purchase the BMW Sauber F1 Team, based in Hinwil, Switzerland. The contract was signed today (Tuesday).

A strong investor has therefore been found for the Hinwil-based team. 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.

Following the FIA’s announcement the team also released the following statement:

15.09.2009Press Release
“We are pleased to confirm that the FIA has indicated that we may have a place in the 2010 Formula One World Championship. The team expects to line up on the grid for the first race of the 2010 season.”

It will be interesting to see what name the new team will carry, and whether Mario Theissen will remain with the team.

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