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Sauber now owned by Longbow Finance
Sauber has announced that Swiss-based investment firm Longbow Finance has fully acquired the Formula 1 team which will result in Peter Sauber retiring from the business he started Sauber has been ravished by financial uncertainty for a number of years and were late paying staff earlier this year. The team has also dropped to the back of the F1 pecking order, and is the only team not to have scored a point so far this year. Longbow Finance, headed by Pascal Picci, aims 'to stabilise the group and create the basis for a competitive and successful future.' Picci will replace Sauber as Chairman, while Monisha Kaltenborn will continue on the board and in her roles of CEO and Team...
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8y ago from GrandPrix247.com
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