Any hope of a Sauber-led rescue bid of the BMW F1 team has broken down after the former team owner claimed that the carmaker’s demands were simply “far too high.”
Sauber is a 20% stakeholder in the BMW team but is still said to still be in talks with the German carmaker despite his recent comments. BMW have also announced that they are in talks with other interested parties about the purchase of the team.
The lack of an agreement has meant that Sauber has been unable to sign the Concorde Agreement in the necessary time. The signing of such an agreement would mean the security of the team and workforce as well as being worth millions in payments.
The motorsport director of BMW Mario Theissen commented on the talks saying that the BMW team were doing “everything in our power to reach a rapid agreement. Regrettably, despite every effort, this has proved unsuccessful. The tight timeframe we faced simply did not allow us and the interested parties and investors enough time to find a solution for such a complex transaction.”
As talks continue we will wait and see if any of the teams that failed to make the official 2010 FIA entry list submit an application such as Prodrive or Litespeed.Image used under Creative Commons licence from cotxe87.com.