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.
May 29, 2015, 5:00 PM EDT
Frenchman hopes to bounce back in Canada next weekend after finishing outside of the points in Monaco.
May 29, 2015, 4:52 PM EDT
Will Power and Helio Castroneves complete the front row for first of two IndyCar races in Detroit.
May 29, 2015, 4:00 PM EDT
Sainz went on to finish the race in tenth place, but it all very nearly ended far earlier in Monaco last Sunday.
May 29, 2015, 3:00 PM EDT
GT racer returns after making his Formula E debut in Uruguay at the end of 2014.
May 29, 2015, 1:51 PM EDT
Brembo busy with IndyCar, TUDOR and World Challenge this weekend.
May 29, 2015, 12:48 PM EDT
Kanaan leads the way in the T-Swift mobile.
May 29, 2015, 12:00 PM EDT
Fernando Alonso’s manager confident the Spaniard was right to leave Ferrari and join McLaren for 2015.
May 29, 2015, 11:00 AM EDT
Ecclestone has given the race promoters two months to make a decision on whether to revive the Indian Grand Prix or not.
May 29, 2015, 10:15 AM EDT
What’s next for Joni Wiman, the defending Red Bull Global Rallycross champion?
May 29, 2015, 9:30 AM EDT
Ricciardo announced himself on F1’s big stage in Canada last year with the first of three victories in 2014.
May 29, 2015, 9:00 AM EDT
Here’s how field did in last year’s doubleheaders.
May 29, 2015, 7:45 AM EDT
Who will emerge on top after a crucial weekend in Detroit?
May 29, 2015, 12:35 AM EDT
Larry Dixon is making up for lost time – in VERY fast way, that is – as in the neighborhood of 320-plus mph and less than four seconds.
May 28, 2015, 11:05 PM EDT
Sarah Cornett-Ching is opening a lot of eyes in the ARCA Series this season.
May 28, 2015, 8:59 PM EDT
Here’s the field for this year’s Red Bull GRC season opener in Ft. Lauderdale.
May 28, 2015, 8:31 PM EDT
Taylor Swift on an IndyCar? Believe it.
May 28, 2015, 6:49 PM EDT
With the completion of the Kansas Nationals this past Sunday, the NHRA Mello Yello Drag Racing Series has reached the one-third point of the 2015 season.
May 28, 2015, 4:30 PM EDT
Ex-F1 driver ponders whether Hamilton’s trust in Mercedes may have taken a hit after his Monaco defeat.
May 28, 2015, 3:23 PM EDT
FIA looking for more teams to join the sport in the next two seasons.
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