Jul 14, 2013, 8:00 AM EDT
Sauber’s financial struggles have been well documented in the media lately, but it appears that the situation could be more dire than first thought with German publication Spiegel today reporting that the team requires $20m to even finish the season, let alone make it to the grid next year.
Star driver Nico Hulkenberg has reportedly been released from his contract due to Sauber’s failure to maitain payments, having also failed to pay suppliers in the last few weeks. The German driver is now in talks with Lotus, although the nature of any deal is yet to be confirmed.
Spiegel also claims that the team has as many as two dozen creditors waiting for payments, which if true means that the team faces an uphill struggle to make it to the final race at Interlagos in November.
In terms of investment, the options for Sauber appear to be few and far between. Nicolas Todt, son of FIA president Jean, was rumored to be in the running to buy a stake in the Swiss team but he recently ruled out doing so. Russian billionaire and owner of Chelsea Football Club Roman Abramovich is thought to be an option, with Chelsea’s crest appearing on the Sauber C32 car as part of a commercial agreement between the two parties.
Jul 4, 2015, 6:00 PM EDT
Watch latest INDYCAR Chronicles with Josef Newgarden.
Jul 4, 2015, 4:00 PM EDT
The coinage of a new term took place at Silverstone on Thursday thanks for Force India’s owner.
Jul 4, 2015, 3:00 PM EDT
Both Ferraris will start behind Williams for the first time in 2015 on Sunday.
Jul 4, 2015, 2:00 PM EDT
The Red Bull driver will start tomorrow’s British Grand Prix from tenth place on the grid.
Jul 4, 2015, 1:00 PM EDT
A lively GP2 race sees Sirotkin claim his first win in the series ahead of Rossi and championship leader Stoffel Vandoorne.
Jul 4, 2015, 12:00 PM EDT
Dutchman admits to NBCSN that he thought he would easily make it through to Q3 in British GP qualifying.
Jul 4, 2015, 11:00 AM EDT
Massa will start tomorrow’s British Grand Prix from third place on the grid ahead of Williams teammate Valtteri Bottas.
Jul 4, 2015, 9:47 AM EDT
Hamilton thanks fans for support as over 100,000 come out for qualifying on Saturday at Silverstone.
Jul 4, 2015, 9:05 AM EDT
Hamilton edges out Rosberg for top spot in Q3 on Saturday at Silverstone.
Jul 4, 2015, 7:45 AM EDT
Can Lewis Hamilton storm to his eighth pole position of the 2015 Formula 1 season on Saturday at Silverstone?
Jul 4, 2015, 6:02 AM EDT
British driver back on top at Silverstone as Rosberg suffers another gearbox problem.
Jul 4, 2015, 4:45 AM EDT
Rosberg looks to make it a clean sweep of practice sessions on Saturday morning.
Jul 3, 2015, 5:00 PM EDT
Sirotkin claims his first pole in the GP2 Series on Friday ahead of Stoffel Vandoorne and Richie Stanaway.
Jul 3, 2015, 4:00 PM EDT
Foust seeks another win, Speed looks for bounce back from tough Daytona at MCAS.
Jul 3, 2015, 3:30 PM EDT
The street and road course specialist gets his first taste of an oval in Iowa this week.
Jul 3, 2015, 2:00 PM EDT
Wolff finishes eight-tenths of a second behind regular Williams driver Felipe Massa in FP1 on Friday.
Jul 3, 2015, 1:22 PM EDT
British driver switches back to the old setting on his Mercedes after struggling in the past four races.
- Hamilton storms to home pole position at British GP 3
- Hamilton closes out British GP practice fastest 0
- Rosberg fastest once again in second British GP practice 0
- Rosberg tops FP1 at Silverstone after gearbox change 0
- NHRA: Tony Pedregon hopes to keep momentum going in Norwalk 0
- NHRA: New president Peter Clifford full of ideas to get drag racing back on-track 10
- Ryan Briscoe making most of filling in for James Hinchcliffe 1