Sauber F1 Team saved by Russian consortium

Sauber F1 Team

The financial woes of the Sauber F1 Team have been eased with confirmation they have secured investment from a trio of Russian companies. Details of the deal are scarce at this stage but the official announcement on the Sauber website reads:

We are pleased to announce a partnership between the Investment Cooperation International Fund, the State Fund of Development of North-West Russian Federation and the National Institute of Aviation Technologies with Sauber Motorsport AG, incorporating the promotion of the sport Formula 1 in Russia and jointly developing high-technological solutions.

The partnership includes further activities for the promotion of the inaugural Formula 1 Grand Prix in Sochi in 2014 and attracting the talented young Russian generation towards motorsport. In particular, a development programme will be set up for the Russian driver Sergey Sirotkin to prepare him as a racing driver for the team in 2014.

This extensive co-operation will showcase Russian innovation at the pinnacle of motorsport. At the same time, the Sauber F1 Team will have a solid foundation to increase its competitiveness on a long-term basis.

It’s understood there won’t be any major changes to the current team structure or management. And perhaps Nico Hulkenberg might have cause to think twice before rushing towards the exit door come the end of the year.

[Pic: Sauber Motorsport AG]