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F1: BMW Buys Sauber
Topic Started: Jun 22 2005, 02:09 PM (87 Views)
Dewy9
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7X Raceski Cup Champion
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Quote:
 
BMW Buys Sauber
RacingOne Report

Posted Wednesday, June 22, 2005

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BMW will independently manage a team in the 2006 Formula One World Championship after buying a majority share of the Sauber team. Currently, the car manufacturer has a limited role in the sport as an engine partner with Williams.

"With a team managed by BMW we will, as of next year, take on responsibility for the entire package, which will include the key factors of the chassis, tires and drivers," Burkhard Goschel, BMW's Board Member for Development and Purchasing said. "We do not expect instant success from the new constellation, but we are convinced that we have chosen the right path for the long term."

Sauber was one of the remaining teams not owned by a car manufacturer, and has been one of the most successful private teams since joining F1 in 1993, claiming a total of six podium places. Its most successful year was in 2001, when the team came in fourth in the Constructors' Championship.

Sauber currently employs drivers Jacques Villeneuve and Felipe Massa.

"For the private teams in particular it has become increasingly difficult to secure the kind of solid financing that will also allow for sporting success," Peter Sauber said. "The partnership with BMW guarantees continuity."

Over the next three years, Sauber's other shareholder Credit Suisse will gradually sell off its shares to BMW as well.

BMW plans to introduce its new team at the beginning of 2006. They plan on keeping Sauber's existing base in Hinwil, Switzerland with plans for expansion in development. BMW will also operate out of its Munich plant in Germany, with both locations coming under the same management team in 2006.

BMW is in discussions with Williams about the future of their F1 partnership.

http://www.racingone.com/article.asp?artnum=23273


Didn't see that coming at all. :rolleyes:
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