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.
Mar 5, 2015, 3:00 PM EST
Filipino-Swiss driver moves from Formula Renault 3.5 for 2015.
Mar 5, 2015, 2:00 PM EST
British driver sends out an ominous statement of intent ahead of the first race of the year in Australia on March 15.
Mar 5, 2015, 1:00 PM EST
Can Massa and Bottas pick up where they left off at the end of 2014?
Mar 5, 2015, 12:07 PM EST
Team now all set to race in Australia on March 15 after passing the FIA crash tests.
Mar 5, 2015, 12:00 PM EST
Add another American to the Formula E roster for 2015 as Speed replaces Marco Andretti for the first of two home races.
Mar 5, 2015, 10:30 AM EST
Dutch driver reportedly seeking an urgent court order that would get him on the grid for the upcoming Australian Grand Prix.
Mar 5, 2015, 10:00 AM EST
Big night of F1 programming upcoming tonight on NBCSN.
Mar 5, 2015, 9:30 AM EST
With neither Hockenheim nor the Nurburgring prepared to host the race in 2015, the outlook is bleak for a German Grand Prix.
Mar 5, 2015, 9:00 AM EST
New sponsor, new number (again) for Hinchcliffe’s 2015 IndyCar campaign.
Mar 4, 2015, 5:14 PM EST
Honda hints at more about its aero kits, while tossing out two dates of note.
Mar 4, 2015, 5:00 PM EST
Look through the Pirelli World Challenge field continues with a look at GTS.
Mar 4, 2015, 3:00 PM EST
Daniel Ricciardo and Daniil Kvyat look to lead the team in the post-Vettel era.
Mar 4, 2015, 12:40 PM EST
Justin Wilson returns to Michael Shank Racing for Sebring one-off.
Mar 4, 2015, 12:09 PM EST
Manor Marussia F1 to make trip to Melbourne after all.
Mar 4, 2015, 10:15 AM EST
FIA Formula E CEO Alejandro Agag outlines goals for upcoming two U.S. races, and recaps the first four thus far.
Mar 4, 2015, 9:51 AM EST
Soft and medium the main choice for Pirelli in three of first four Grands Prix.
Mar 4, 2015, 8:14 AM EST
Raffaele Marciello set for Malaysia FP1 appearance at Sauber.
Mar 3, 2015, 7:00 PM EST
One to two sentence bullet point rundown on the PWC GT, GTA, GT Cup field heading into COTA and the 2015 season.
Mar 3, 2015, 4:45 PM EST
Pippa’s Pink Posse to feature prominently in Komen Race for the Cure, for Central Indiana Affiliate.
Mar 3, 2015, 4:00 PM EST
It’s the race to repeat in 2015, but will it be Lewis Hamilton or Nico Rosberg who takes the title?
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