Jul 14, 2013, 9:00 AM EDT
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.
Aug 23, 2014, 1:30 PM EDT
F1 supremo confirms that he has no problems with taking F1 to Russia in October.
Aug 23, 2014, 1:15 PM EDT
The 450 Class championship battle between Ryan Dungey and Ken Roczen has come down to the final race of the season. Who will leave Utah with a title in hand?
Aug 23, 2014, 1:00 PM EDT
Fourth place a welcome surprise for Fernando Alonso and Ferrari.
WATCH LIVE: Utah National qualifying and pre-show at 1 p.m. ET; Tomac, Martin currently top the charts
Aug 23, 2014, 12:40 PM EDT
The final round of the Lucas Oil Pro Motocross Championship has arrived. Watch the second qualifying session at 1 p.m. ET and the pre-show at 2:15 p.m. ET on NBC Sports Live Extra.
Aug 23, 2014, 12:30 PM EDT
For the second year in a row, Bianchi managed to upset some of the bigger names during qualifying at Spa.
Aug 23, 2014, 11:45 AM EDT
The NASCAR Sprint Cup Series had raced at the track “Too Tough To Tame” on Labor Day weekend from 1950-2003.
Aug 23, 2014, 11:30 AM EDT
P18 on the grid goes down as the Hulk’s second-worst qualifying result in F1.
Aug 23, 2014, 11:00 AM EDT
Defending world champion qualifies a distant third behind the two Mercedes cars on Saturday at Spa.
Aug 23, 2014, 10:30 AM EDT
2008 world champion secures his first top five qualifying result since the Canadian Grand Prix back in June.
Aug 23, 2014, 10:00 AM EDT
Mercedes locks out the front row of the grid for the first time since the Canadian Grand Prix back in June, with Rosberg claiming pole at one of the sport’s most famous circuits.
Aug 23, 2014, 9:30 AM EDT
Lewis wants to beat Rosberg when the German is at the peak of his powers, as the two drivers fight for this year’s F1 world title.
Aug 23, 2014, 9:05 AM EDT
German driver takes pole at a damp Circuit de Spa-Francorchamps on Saturday afternoon.
Aug 23, 2014, 8:30 AM EDT
The Ferrari driver took the plunge after being nominated by Felipe Massa and soccer player Juan Manuel Mata.
Aug 23, 2014, 7:45 AM EDT
You can watch qualifying from Spa-Francorchamps live on CNBC and Live Extra from 8am ET.
Aug 23, 2014, 7:30 AM EDT
The Daytona round of the Red Bull Global Rallycross is a key one and kicks off the second half of the 2014 season. Here’s more from Kristen Kenney heading into the weekend.
Aug 23, 2014, 7:15 AM EDT
Sainz was expected to get the Toro Rosso drive, but was rejected in favor of 16-year-old Max Verstappen.
Aug 23, 2014, 6:30 AM EDT
Red Bull’s chief technical officer isn’t getting his hopes up for this weekend’s race at Spa.
Aug 23, 2014, 6:03 AM EDT
Williams finishes practice for the Belgian GP with a flourish.
Aug 23, 2014, 4:45 AM EDT
One final chance for the drivers and teams to get to grips with Spa ahead of qualifying later today.
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