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Sauber: We will be in F1 for ‘many years to come’

Jul 14, 2013, 9:00 AM EDT

Former Sauber F1 team principal Sauber  attends the unveiling the C32-Ferrari Formula One car at the company's headquarters in Hinwil Reuters

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.

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