The Sauber team have been looking for solid long-term investment for several years now and they’ve finally found a solution that will help them keep the Swiss team on the grid for the foreseeable future. The Sauber Group has been fully acquired by Longbow Finance S.A. with the name Sauber expected to stay, Peter Sauber himself set to retire, but Monisha Kaltenborn to continue on in her role as chief executive officer and team principal.
Monisha says: “We are convinced that Longbow Finance 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."
Longbow Finance is a Swiss-based investment group who have been in business for twenty years, and the hope is they’ll provide a stable platform for the team. That’s good news compared to the more recent reports of missed salary payments and not participating in the recent mid-season testing. Hopefully the team can move onward and upward from here.
Filed under F1Minute
References Monisha Kaltenborn
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