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Sauber's long-term future secured as new owners take control
Sauber confirmed on Wednesday that it has agreed a deal with Longbow Finance S.A., which will see the Swiss investment company take full ownership of the Sauber Group which includes the Formula 1 team. Sauber have struggled financially for the past few seasons with 2016 proving particuarly difficult, with staff wages often delayed. However for the first time in months, June's wages were paid on time, prompting speculation that the team had found a new backer. That has now been confirmed, with Longbow Finance S.A. taking ownership with their intention 'to stabilise the group and create the basis for a competitive and successful future'. As part of the deal, founder Peter Sauber...
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10y ago from GrandPrixTimes.com
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