Sauber announce new partnership with Russian companies – Formula 1 news
Sauber has announced about their new partnership with three Russian companies and have successfully secured their long-term future in Formula 1.
The team principal of Sauber, Monisha Kaltenborn had said that they were facing some immense financial crisis due to which they could not make the desired progress in their car. Furthermore, she expressed that they have been unable to generate enough funds
and to get required sponsors to fund their activities which put their very existence in the sport at risk. She also requested the F1 to provide assistance to the smaller team for the betterment of the sport. However, the chief executive officer of F1, Bernie
Ecclestone asserted that he cannot bail out the Hinwil based squad as he has to treat all the teams in an equal way.
Nevertheless, the Swiss team has managed to secure financial agreements with three companies namely The State Fund of Development of North-West Russian Federation, the National Institute of Aviation Technologies and the Investment Cooperation International
Fund. In addition, the team stated that they are positively looking forward to take help from their new investors in order to make the significant progress to compete well with their rivals in the season ahead.
“Will benefit from the advanced know-how of the front-end Russian scientists and engineers,” read the statement by the team.
“This extensive co-operation will showcase Russian innovation at the pinnacle of motorsport,” the statement continued. “At the same time, the Sauber F1 Team will have a solid foundation to increase its competitiveness on a long-term basis.”
It will be important to mention that Sauber owner, Peter Sauber never expressed any worry about their continuation in F1 as he was convinced that they would surely be able to secure some nice deals.
“We will not only see out this season to the end, but we will still be in Formula One for many years. The negotiations which we have been involved are close to reaching a conclusion. I’m convinced that we will succeed in getting a rescue,” Sauber said.
Currently, the Swiss squad are standing at 8th place in the constructors’ championship. Let’s see how they perform in the Hungarian Grand Prix.
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