BMW finds buyer for Sauber team

The Qadbak investment company has bought out the team
The Qadbak investment company has bought out the team
 
 

Tuesday, 15, Sep 2009 01:35

By Adam Leveridge

BMW has announced that it has found a buyer for its Hiwii-based formula one team.

In a statement, the German manufacturer it had agreed a deal with the Qadbak Investments company, who are based in Switzerland and represents the interests of Middle-Eastern and European families.

Earlier in the year, BMW revealed that it would be pulling out of F1 at the end of the season and the manufacturer has been in talks with a number of potential investors ever since.

The sale of BMW Sauber coincides with an announcement by the FIA that Lotus will be making a return to the sport next season.

This means that BMW Sauber are in the first reserve position should a current team fail to make it onto the grid at the opening round of the 2010 season.

But, the FIA also noted that it will consider enlarging the grid to 28 cars for next season to allow the Hinwii-based team to race next year.

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