BMW agree a deal with Peter Sauber
BMW announced in the summer that it was pulling out of the sport, claiming it had agreed a sale with Qadbak Investments Ltd, the mysterious consortium registered in the British Virgin Islands which also served as a vehicle for the purchase of football club Notts County.
However, the German car maker announced on Friday morning that it had pulled out the mooted deal with Qadbak and decided instead to hand the team back to Sauber, who founded his Hinwil-based operation in 1993 and ran it until BMW bought 80 per cent of the company in 2005.
BMW AG reached an agreement with Peter Sauber regarding the sale of the BMW-Sauber F1 team," BMW said. "The contract is subject to the condition that the team has a starting place for the 2010 Formula One season."
Source: BMW agree a deal with Peter Sauber
However, the German car maker announced on Friday morning that it had pulled out the mooted deal with Qadbak and decided instead to hand the team back to Sauber, who founded his Hinwil-based operation in 1993 and ran it until BMW bought 80 per cent of the company in 2005.
BMW AG reached an agreement with Peter Sauber regarding the sale of the BMW-Sauber F1 team," BMW said. "The contract is subject to the condition that the team has a starting place for the 2010 Formula One season."
Source: BMW agree a deal with Peter Sauber
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