BMW AG has announced that it has reached agreement with Qadbak Investments Ltd, a Swiss-based foundation which represents the interests of certain Middle East and European based families, to purchase the Hinwil based BMW Sauber F1 Team.

What this means for the future of the F1 Team and it’s place in the 2010 season is as yet uncertain, but it should result in jobs being saved at the ex-Sauber factory.

UPDATE: Press release from BMW Sauber F1: “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.”

Reporter: Tony Braybon

Written By

Steve Davies

Steve is an investor, private equity advisor and former Partner at KPMG, PwC and Bain.   Most importantly he's a life-long car enthusiast, mountain biker and active sports enthusiast. He designs and builds technology platforms and is the architect behind Transmission.

More from this author

Try These Next

Stories we think you'll enjoy

Privacy Preference Center

%d bloggers like this: