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.
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Hi,
Can i take a one small pic from your blog?
Thank you
GlenStef
Hi GlenStef. Are you referring to the image on this news story or are you wishing to use another from elsewhere on the site?
If you could just let me know which image you would like to use and what it is for I can try to sort something out for you. Most of the images on the site are compressed to save on space and aid the loading times of the pages. I have much higher quality copies in my photo archives that are not online.