It Costs More to Buy a BMW than a Honda (or Two)

What Happens When a Manufacturer Wants More Than 1£ for an F1 Team

— According to several F1 sources, Peter Sauber was prepared to buy the rest of the BMW Sauber team with various other team principles from BMW for next season and sign the Concorde Agreement, but he says, “the negotiations with BMW have failed because the demands were simply far too high for me. Consequently, I have been unable to sign the Concorde Agreement, which guarantees payments worth millions and would have secured the future of the team.”  FOTA has offered their support, indicating that they encourage the FIA allowing the team’s reincarnation sign at a later date, but there is no word as to whether the FIA would do so.  As such, the team has not signed the Concorde Agreement and stands on even shakier ground for entrance in the World Championship next season.

Dr. Mario Theissen, BMW Motorsport Director stated today, “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.”  Didn’t BMW make the decision to announce when they did?  If they truly wanted to deal, mightn’t they have mentioned to possible intertested parties that, by the way, we’re leaving F1, so that they would have time to muster up the cash?  Isn’t it a tight timeframe of their own making?  In any case, negotiations are ongoing and we wait only to see if the FIA announces a new team for the 2010 season (Sauber Cosworth, perhaps or one of the rejected teams).


1 Comment

  1. I’m letting out an audible sigh on this one. I was one of the hopefulls last year rooting Kubica on- with that said, I’m hugely disappointed with BMW this season. I honestly believe that if they stuck with it, they would of had a chance later this year or next.

    Oh well, if BMW falls through then that opens another spot for maybe prodrive next year.

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