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Sauber announces change of ownership
Sauber F1 Team Sauber has announced a change of ownership which will see founder Peter Sauber retire from the team. Sauber has struggled in recent years and has yet to score a point in 2016, with its situation exacerbated by financial issues off-track. Sauber confirmed on Wednesday that it had struck an agreement for Longbow Finance S.A. to fully acquire Sauber Holding AG, which is the ultimate holding company of the Sauber Group. Peter Sauber will retire from all functions and be replaced by Pascal Picci as chairman, with Monisha Kaltenborn staying on as team principal. "We are very pleased that by reaching an agreement with Longbow Finance S.A., we can secure the future of Sauber at...
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8y ago from F1Zone.net
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