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Sauber/Qadbak Deal in Doubt

The Sauber-Qadbak buyout is on the verge of collapsing, according to several reports in the Swiss media. It appears the man behind the Qadbak organization is not exactly a legitimate investor – at least not as far as the International Automobile Federation (FIA) is concerned – as he has spent some time in jail for insurance fraud.

Russell King is believed to be the man behind the aforementioned consortium, which was also investigated by the English Football Association after purchasing the Notts County football club. Also, according to Swiss weekly newspaper Sonntagszeitung, it's actually King who's at the helm of the Swiss consortium, and not wealthy Middle Eastern families.

It is believed this is why the FIA is waiting such a long period of time before granting the newly Sauber/Qadbak team with a Formula One entry for the 2010 season. According to some reports, Qadbak was not planning to bring any major investments in the Hinwil based team for its 2010 operations, but rely on the prize money for the outfit's 6th place in the manufacturers standings.

The FIA, on the other hand, is looking to secure an entry for Qadbak/Sauber only in exchange of pre-prize money assurances from the new investor. In case that won't happen, it's likely that Toyota's seat in the series will be taken by another team.

In addition, it seems the BMW's board of directors is also surprised by the latest media findings regarding the Qadbak company, as they were initially led to believe the Swiss foundation will pump a great deal of cash in the Hinwil operations.

The FIA will announce an official and final entry list for the 2010 Formula One Championship a few days from now, as they are still to conclude investigations on Toyota's F1 exit.
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