BMW Sell Sauber Team to Qadbak Investments

Only hours after the 13th entry of the 2010 Formula One Championship was awarded by the International Automobile Federation (FIA) to Team Lotus F1, Peter Sauber and German manufacturer BMW have announced that the Hinwil based team was purchased by Qadbak Investments company.

Again, we're talking about a company in some way connected with the Middle East, as Qadbak Investments is a Swiss foundation that currently representing the interests of some families in the aforementioned region, as well as in Europe.

A strong investor has therefore been found for the Hinwil-based team. Qadbak's interest in the team will be represented by Lionel Fischer, a Swiss national. BMW wishes Qadbak and the Sauber Team every success for the 2010 season and beyond,” said a statement posted on BMW's official site.

Under the circumstances, the team is now waiting for the final verdict of the FIA regarding the 2010 championship. According to a press release from the FIA earlier today, the Hinwil based team has been granted with a 14th entry in the next year roster only as a potential substitute in case of vacancy – if one of the current teams were to retire.

However, as added by the FIA officials, the ruling body will immediately ask the Formula One Teams Association (FOTA) to allow the Swiss outfit into the 2010 roster, therefore agree to a 28-car grid. Such a decision will only be taken by the FIA if all the teams agree with the proposal.

We are pleased to confirm that the FIA has indicated that we may have a place in the 2010 Formula One World Championship. The team expects to line up on the grid for the first race of the 2010 season,” added the hopeful statement from BMW.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories