Sauber rescue deal worth $170 million

by SpeedLux

After having reported yesterday about the deal between Sauber and Russian parties, the boss Monisha Kaltenborn has clarified on reports that were stating that the company has been bought by Russian parties.

Italy’s Autosprint has quotes Kaltenborn as insisting that, “The team has not been sold.” Speed Week reported that Sauber’s existing structure, with Kaltenborn and founder Peter Sauber at the decision-making helm, is also not changing and remains the same.

The Swiss portal 20 Minuten has further said that the Russian investment in Sauber amounts to a whopping $ 170 million, clearing the team’s debts and paying unhappy suppliers. But there have been questions that have been raised on from where the funds would be coming from in to the company. In fact, some reports state that the entities listed in the Sauber press release are little more than shell organisations, and are closely linked to Russian president Vladimir Putin.

However, a source is quoted by the Swiss newspaper Blick that it doesn’t matter where the money comes from but what is important is that it comes as Sauber is in dire need of the funds to pay of its debts and suppliers including mighty Ferrari and to survive in the market.

Office workers are made up of parts of the whole, working on the project.
Vector illustration of teamwork concept. Office workers are made up of parts of the whole, working on the project.
Write For Us Automotive Blog - SpeedLuxSend us a Tip Automotive Car BLOG SpeedLuxJoin Our Team SpeedLux Automotive NewsContact Us Guest Posts Advertise Car BLOG

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More