Whilst this is great news for the team, one can't help but wonder, how long can a financial organization fund a Formula 1 team and for how long ?The Sauber Group is pleased to announce the change of its ownership. Following the signing of the acquisition agreement with the current shareholders, Longbow Finance S.A. will fully acquire Sauber Holding AG which is the ultimate holding company of the Sauber Group. It is Longbow Finance S.A.’s clear intention to stabilise the group and create the basis for a competitive and successful future. This transaction also secures the continuation of the brand Sauber in Formula One and will open opportunities to further grow the engineering activities of the group. There will be no changes to either the company or the team name.
Peter Sauber will retire from all functions, being succeeded by Pascal Picci as Chairman of Sauber Holding A.G. Monisha Kaltenborn will remain as a member of the Board of Directors and continue to lead the company in her functions as CEO and Team Principal.
It is also sad to see Peter Sauber the founder of this team retire.
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