Formula1 News

Deal to sell BMW Sauber F1 team reached

Written by Chidi Offor
Sunday, 20 September 2009 12:24
BMW Sauber’s hopes of staying on the grid next season received a boost on Tuesday after BMW confirmed it has reached agreement on the sale of the team. The German car maker is pulling out of Formula One racing at the end of 2009. Qadbak Investments Ltd, a Swiss-based foundation which represents the interests of certain Middle East and European based families, has agreed to purchase the team, based in Hinwil, Switzerland. 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 BMW in an official statement announcing the deal. The recent uncertainty surrounding BMW Sauber’s future means they do not have a confirmed entry for next season. However, the FIA has said it will be pressing for a 14-team field in 2010, with BMW Sauber guaranteed the final slot if the necessary rule changes can be agreed.

Renault Bosses quit over Race Fixing allegation

Written by Chidi Offor
Sunday, 20 September 2009 12:12
The Renault Formula One team issued the following press release on Wednesday: The ING Renault F1 Team will not dispute the recent allegations made by the FIA concerning the 2008 Singapore Grand Prix. It also wishes to state that its managing director, Flavio Briatore and its executive director of engineering, Pat Symonds, have left the team. Before attending the hearing before the FIA World Motor Sport Council in Paris on 21 September 2009, the team will not make any further comment.
Last Updated on Sunday, 20 September 2009 12:13