Sauber Sold

[Crash and Burn]

PETER SAUBER, according to reports in the Swiss press, has sold control (63%) of the Sauber Petronas Formula One team for $44m - but says he is currently not in a position to reveal the name of the Swiss racing team's new owner.

Dietrich Materschitz, head of Red Bull, the energy drink company whose name and logo recently disappeared from the Sauber corporate and team names, allegedly after 'irreconcilable differences' between himself and Peter Sauber, is said to have made the sale possible by offering up his shares in Sauber Petronas.

Peter Sauber, who is reported to have retained 37% in the F1 team, confirmed the sale today when he told the Swiss publication, Blick: “Yes, it's correct. Materschitz has offered me his share,”

On just who had taken control of the company, however, Sauber was tight-lipped, saying no more than "No comment"

"But the move it is very positive," he added, "so much so, in fact, Dieter (Materschitz) continues to show interest in a sponsorship agreement with us for 2002!”

Perhaps the beginning of the end in the troubled relationship between Dietrich Materschitz and Peter Sauber occurred when Materschitz called for the Red Bull-sponsored driver, Enrique Bernoldi, to be given one of the driver's seats in 2001, but Sauber opted instead to use the up and coming Finnish star, Kimi Raikkonen.

As it turned out, it was a good decision on the team boss's behalf, but it soured his relationship with the Red Bull boss and it appeared that Red Bull had turned their backs on Sauber Petronas when it was recently announced by the race team that they had dropped the Red Bull name and logo.

In the light of all this it is interesting, therefore, that Sauber should be indicating that Red Bull were ready to talk about renewing their sponsorship - despite selling their interests to the undisclosed buyer.

The Swiss team will be launching their 2002 F1 contender at the end of the month and it is thought that further details of a new Red Bull sponsorship connection and the new owner's name will be revealed at that time.

Meanwhile, Sauber Petronas have announced on their official website that "as of January 2002, the Commercial Vehicle Division of DaimlerChrysler Schweiz AG is to become the technical supplier to the Sauber Formula 1 Team.

"Success in Formula 1," said the announcement, "means getting the whole package right.

"In the sector of logistics, DaimlerChrysler offers us optimum support so that the Formula 1 vehicles and equipment can be delivered on time.

"Whether we are off to Monza or trucking the 2,300 kilometres to the test in Jerez, the Mercedes-Benz Actros semitrailer trucks are a reliable and safe means of transport with comfortable cabs for the truckers.

But should a problem crop up at any time, however, the excellent servicing network throughout the EU can help us", Peter Sauber is quoted as saying.

[Nicholas]

Will the team still be known as Sauber?

[Minardi fan]

And does this mean new engines?

[av8rirl]

Will it be known as TGF Racing???

[SILVERS95]

that would be funny !!!!......but Sauber must surley keep their year old Ferrari engines , as they would be mad to give them up...

[av8rirl]

Just think of the sponsorship Schumi could bring to a team. They would be falling over themselves to jump onto the side of the car. I think they'd eventually build their own engines. Aren't Sauber starting out a GP (or WSB) campaign with the own 4-stroke engine and Foggy as team manager. With GP bikes going 4-stroke, the technology will apparently be shared among the GP car and bike teams.

I'd also be quite sure that MS could bring the right beople to a team: Brawn, Todt, et al... Interesting when you think about it???

[Tom Fuller]

Would he rename them 'Schumacher' and sign up his brother?

That is an interesting idea!

[Liz]

If so, I can predict two things:

(1) Sir Frank will breathe a sigh of relief; and
(2) Juan Pablo Montoya will never be asked to drive for that team!

Interesting developments, both.

[Tom Fuller]

Thats for sure!!!

It would probably be:

Team: Schumacher
Engine: Ferrari
Manager: Michael Schumacher
Driver 1: Ralf Schumacher
Driver 2: Michael Schumacher

[Maxmil]

I believe that Peter Sauber will be keeping the control of his team, as his remaining shares are said to control a majority vote. As of this AM, it is being strongly suggested that Credit Suisse bought up the Red Bull shares. I can't see any problems there. It looks like business as usual for the team.

[Nicholas]

So Michael Schumacher has indeed bought the team...?!

[SILVERS95]

Originally posted by Tom Fuller
Thats for sure!!!

It would probably be:

Team: Schumacher
Engine: Ferrari
Manager: Michael Schumacher
Driver 1: Ralf Schumacher
Driver 2: Michael Schumacher

i think you meant to say::

Driver 2: Ralf Schumacher
Driver 1: Michael Schumacher

as MS doent like to play slave to anyone.

[Nicholas]

Or could it just be Credit Suisse?

[Tom Fuller]

Originally posted by SILVERS95


i think you meant to say::

Driver 2: Ralf Schumacher
Driver 1: Michael Schumacher

as MS doent like to play slave to anyone.

Soory yes that wat i meant

[SILVERS95]

i thought so. LOL

[Stephen Green]

Peter Sauber has indeed bought back the shares from Red Bull Gmbh and has now given them to Credit Suisse to place with investors.

[Total-F1]

And what's all this rubbish about Schumacher?

He's a pretty smart guy - I really can't see him getting into any of that team-running business when he can see how the others have turned out!

He has a whole team as good as his anyway - and a legendary name like Ferrari as well!

[Nicholas]

Last year around the Malaysian GP there were rumours going around that TGF would buy a stake in Sauber.

[Total-F1]

One of the more credible rumours, obviously!

[av8rirl]

Weren't Ron Dennis, Frank Williams and EJ drivers in their day. Maybe not to F1 standard although I hear EJ was pretty good in his F3 days until he had a big smash??? Anyone know any other team bosses that raced??? Apart from "The Professor". Niki was a damn good pilot. I know he inherited his job, but he'll make it work.

So why not TGF? He could get the best people to help out and I'm sure that he's not half as silly as he looked with that red wig on his head???

[Total-F1]

Michael already as good as runs the Ferrari team - why does he need the "challenge" of running his own F1 team?

Niki Lauda is a hard taskmaster, and has a good business brain.

Ron Dennis worked his way up from being a mechanic, and Eddie Jordan was yet another mediocre driver on the racing scene - didn't have a smash, I don't think.

I think Frank took part in a few races before turning to managing a few drivers - which led to him starting his team.

Schumacher would indeed be able to bring together a good team, finance it and maybe even run it well, but I really don't think there would be any enjoyment in it for him,

He likes driving, and he obviously likes making money, but the day-to-day graft of running an F1 team these days just isn't him, I don't feel.

[av8rirl]

Racings in his blood. I think he'll find it very hard to step away when some young pup takes his seat at Ferrari. Image MS buying a team like Sauber)not really struggling)/Arrows/Minardi and turning it into a championship contender. I'd say he'd do some of the development himself, maybe even race it in his slowing down years (although he'll probably want to quit driving at the top). While not a huge fan of his, I'd love to see him take on a challenge like this. Or maybe he could take on another struggling team - BAR...

[Maxmil]

This subject came up again yesterday in the "Mika" Thread, and just as I was rereading my reply before posting it, our power went down for several hours. Any way, here is the text of the Planet F1 article which appeared on January 8.

"Credit Suisse Is The Buyer

Peter Sauber confirms that the Swiss Bankers will take over Red Bull's shareholding in the F1 race team
08/01/02

Peter Sauber and Credit Suisse today (Tuesday) both confirmed reports that the Swiss Bankers had agreed to take over the 63% shareholding in the F1 Racing team previously owned by Red Bull boss Dietrich Mateschitz.

It is believed to be worth about $43m.

"I have bought back the shares of Sauber Holding AG from Red Bull GMBH," Peter Sauber said through a team spokeswoman.

"Credit Suisse will take over these shares in order to place them with different investors. "My objective is to secure by this transaction a strong financial base for Sauber Holding and in doing so, ensure the long-term success of Sauber."

A Credit Suisse spokeswoman confirmed the statement without enlarging on it.

On the subject of a sponsorship deal with Red Bull, Sauber said that he was still talking to its owner and hoped the energy-drink makers would continue their sponsorship of the Sauber team even if it would no longer be as a title partner.

Red Bull's f1 spokesperson confirmed that talks were continuing and denied that any links with Sauber in 2002 would compromise or sabotage their partnership deal with Orange Arrows.

"We are free to sponsor anyone we please," the spokesman said.

Sauber are scheduled to launch their 2002 contender on 25 January but Arrows have yet to announce a launch date."


This article was confirmed and reconfirmed many times on other F1 media outlets that week, and, I believe by some of the financial news services as well. It also seems to me that if Sauber wanted the shares to be sold to McLaren/Mercedes, there would be absolutely no reason to involve the Credit Suisse, who will undoubtedly be compensated when the shares are placed.

[Rimrider]

TGF buying the Sauber shares would really be good business for him.

$43m would probabaly be less than a years earnings for him. Better to invest than pay the tax man (or what doesn't go off-shore).

The amount of pulling power he has commercially would see him getting a return on his investment within 2 years. If the team achieved success his investment value would increase and motor manufacturers would fall over themselves to be involved, so the technology requirement would not be a problem.

Maybe somewhere for his brother to drive as he and WW seem to be talking their way out of a contract.

What price JPM to take TGF's place when he stops?