Sauber F1 Future – Team Ownership
Yesterday it was announced that the Sauber F1 Team has secured a new deal with Longbow Finance S.A acquiring Sauber Holding AG meaning a change of ownership.
The past year, Sauber have been struggling – on and off track especially with all the financial difficulties and last year there was a question mark over the teams future in the sport.
Longbow Finance S.A will now fully acquire Sauber Holding AG with their main goal being to stabilise the group and create the basis for a competitive and successful future.
This will allow the Sauber team to continue in Formula One and with this announcement, should open the door for more opportunities allowing the team to grow further. No change will occur to either company name.
Peter Sauber will retire from all functions with his place being taken over by Pascal Picci who will be chairman of Sauber Holding AG.
Monisha Kaltenborn will remain as a member of the board of directors and continue to lead the company in her functions as CEO and as Team Principal.
Pascal Picci – President & CEO, Longbow Finance S.A
“As a Swiss company we are very pleased with having secured the future of a swiss presence in a highly specialised and innovative industry.”
Monisha Kaltenborn – CEO & Team Principal Sauber Formula 1 Team
“We are very pleased that by reaching an agreement with Longbow Finance S.A, we can secure the future of Sauber at the pinnacle of motorsport.”
“We are convinced that Longbow Finance S.A is the perfect partner to again make the team competitive and successful in Formula 1.”
“At the same time the new structure will allow us to finally further expand our third party business in which we commercialise our know-how. This solution is in the best interest of our employees, partners, loyal suppliers, the base in Hinwil and for the Swiss motorsport.”
“We are very grateful that Longbow Finance S.A believes in the competences, efficient and capabilities of the Sauber Group and we look forward to a new and exciting future.”
Peter Sauber – President of the Board of Directors, Sauber Holding AG
“Monisha Kaltenborn and I yesterday signed an agreement, securing the future of the Formula 1 Team and the Sauber Group.”
“I am very happy that my courageous investment to buy the team back which I made six years ago, with the intention to secure the base in Hinwil and the place in Formula 1 has proved to be correct.”
Wishing the Sauber Formula 1 Team all the best in their future – they have potential and deserve to grow as a team.
More to come soon! 🙂
The Formula 1 Girl
xxx
Information provided from Sauber Formula 1 Team