Jul 14, 2013, 9:00 AM EST
Peter Sauber is confident that his team will be in Formula One “for many years” despite the team reportedly needing $30m to make it to the end of the season.
Speaking to Swiss publication Blick, Sauber admitted that some investment was needed but he is confident that the money will be found.
“We will not only see out this season to the end, but we will still be in Formula One for many years,” Sauber explained. “I am convinced. The negotiations which we have been involved are close to reaching a conclusion. I’m convinced that we will succeed in getting a rescue.”
Sauber made no secret of how serious the situation was, but he rubbished reports stating that employees at Hinwil had not been paid.
“The situation is serious. It is one of the most difficult situations since I’ve been in motorsport,” the team boss explained.
“For many, we’ve been a very good and a very reliable partner for years. Obviously I’m sorry for any supplier who has had to wait for his money. We have not had to lay anyone off yet and have paid wages on time.”
Sauber’s optimism will sooth many fans of the team, and the fact that negotiations are ‘reaching a conclusion’ will please many in Formula One who are keen on seeing the team enter its twentieth year in F1 next season.
Feb 26, 2015, 3:00 PM EST
Brazilian driver still believes that Mercedes has the best car in F1 this year.
Feb 26, 2015, 2:00 PM EST
Briton still manages to finish third on Thursday, but is limited to just 48 laps following the power unit issue.
Feb 26, 2015, 1:45 PM EST
F1 rookie happy with the final raft of updates on the STR10 ahead of the first race of the year in Australia.
Feb 26, 2015, 1:00 PM EST
Spanish racer will get a chance to test the E23 Hybrid out on track at least once in 2015.
Feb 26, 2015, 11:00 AM EST
Ferrari reserve driver speaks after completing his first running in the new SF15-T at a filming day in Barcelona.
Feb 26, 2015, 9:00 AM EST
Ex-Red Bull driver believes that Vettel will be rejuvenated following his move to Ferrari for 2015.
Feb 26, 2015, 8:15 AM EST
The VJM08 will finally make its on-track debut with three days to go in winter testing.
Ron Dennis clears up Alonso crash rumors; confirms he was briefly knocked unconscious but was not concussed
Feb 26, 2015, 7:27 AM EST
McLaren CEO meets with the media to quash incorrect reports surrounding Alonso’s accident in testing.
Feb 25, 2015, 5:13 PM EST
Justin Wilson’s offseason plight isn’t only budget-related, but due to a reduced number of available opportunities in IndyCar.
Feb 25, 2015, 2:45 PM EST
Brad Hollinger’s investment in Williams’ ownership moves from 5 to 10 percent.
Feb 25, 2015, 2:21 PM EST
Lineups and running order ahead of this week’s Barcelona test.
Feb 25, 2015, 11:27 AM EST
What Force India couldn’t gain in car evaluation it could gain in 2015 tire and different driver evaluation last week in Barcelona.
Feb 25, 2015, 10:15 AM EST
The Melbourne season opener is a little more than two weeks away.
Feb 25, 2015, 8:52 AM EST
Fernando Alonso is out of the hospital after his testing crash last week.
Feb 25, 2015, 8:30 AM EST
Nick Tandy will embark on a program of LMP1, LMP2 and GT Le Mans in 2015, with KCMG confirmation in WEC.
Feb 25, 2015, 8:22 AM EST
Force India confirms Friday car debut for the new VJM08.
Feb 25, 2015, 8:10 AM EST
Manor seeks to make Melbourne race appearance and confirms its first driver.
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