Jul 14, 2013, 8:00 AM EST
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.
Nov 28, 2014, 7:16 PM EST
Red Bull GRC champs Olsbergs MSE has their drivers second and fourth in the standings so far.
Nov 28, 2014, 4:45 PM EST
Put down your shopping bags, heat up some Thanksgiving leftovers, and tune in for a Black Friday edition of NASCAR AMERICA on NBCSN.
Nov 28, 2014, 4:31 PM EST
Mark Webber fastest in second practice for WEC at Interlagos.
Nov 28, 2014, 3:00 PM EST
Porsche 919 Hybrids run 1-2 in the first session at Interlagos.
Nov 28, 2014, 2:00 PM EST
The end of the WEC season occurs this weekend in Brazil.
Nov 28, 2014, 1:45 PM EST
We take a look back at some of the biggest stories in Formula 1 this year.
Nov 28, 2014, 1:30 PM EST
Rico Abreu locks up USAC Honda Midget Series title with fifth-place finish in Thanksgiving classic.
Nov 28, 2014, 1:00 PM EST
Alonso proved once again in 2014 that he has ability exceeding that of the Ferrari car, but even he couldn’t make up for the shortcomings of the F14 T.
Nov 28, 2014, 12:11 PM EST
Spanish driver to race alongside Max Verstappen in 2015, stepping up to make his F1 debut.
Nov 28, 2014, 12:00 PM EST
Red Bull may have been underdogs after winter testing, but few could have predicted Sebastian Vettel’s bid for a fifth world title being as weak as it was.
Nov 28, 2014, 11:00 AM EST
After a difficult rookie season, Bottas’ sophomore year in F1 brought far more success, marking the Finn as a possible champion in the future.
Nov 28, 2014, 10:30 AM EST
Kvyat will replace Sebastian Vettel at Red Bull next year.
Nov 28, 2014, 10:15 AM EST
Nico Hulkenberg and Porsche: a win for both the WEC and F1 in a rare moment of motorsport unity for the common good.
Nov 28, 2014, 10:00 AM EST
What a year it was for Daniel Ricciardo in his first season at Red Bull.
Nov 28, 2014, 9:30 AM EST
Talks about a new contract with Mercedes should be brought forwards after title win.
Nov 28, 2014, 9:00 AM EST
A worthy title contender, Nico Rosberg enjoyed his most successful season to date in 2014.
Nov 28, 2014, 8:00 AM EST
2014 saw the Briton become a two-time F1 world champion, winning 11 races.
Nov 28, 2014, 7:00 AM EST
A new regime will come into force at Maranello next season following a disappointing campaign in 2014.
Nov 28, 2014, 6:00 AM EST
British racer will remain with Williams for 2015 after becoming the first woman to take part in a grand prix weekend session in 22 years over the summer.
Nov 27, 2014, 8:46 PM EST
NHRA team owner Don Schumacher underwent surgery Wednesday for early-stage skin cancer.
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