Sauber buys back stake from BMW

RichardsF1    Formula 1     BMW Sauber, Peter Sauber, Sauber

BMW has sold its Formula 1 team back to former owner Peter Sauber on Thursday. As a deal with shady Swiss investments firm Qadbak was apparently not fully completed, the Sauber name is now likely to return to the sport next season.

Great news!

With his eponymous team having been bought by BMW at the end of 2005, the Swiss businessman and former team owner remained a shareholder of the Hinwil outfit, which had seemingly been purchased this year by Qadbak.

"I am very relieved that we have found this solution," Peter Sauber commented. "It means we can keep the Hinwil location and the majority of workplaces. I am convinced that the new team has a very good future in Formula 1 whose current transformation with new framework conditions will benefit the private teams.

"Our staff here are highly competent and motivated and I look forward to taking on this new challenge together with them. I would like to thank BMW for four shared years that have, in the main, been very successful."

With Toyota’s departure having left the final 13th entry free, a return for the established Sauber would confirm a 26-car grid for 2010.

Here’s hoping this happens!