21 July,2016 08:15 AM IST | | AFP
The ailing Sauber Formula One team said its future was finally assured after it announced a change of ownership yesterday that will save it from extinction
Zurich: The ailing Sauber Formula One team said its future was finally assured after it announced a change of ownership yesterday that will save it from extinction.
There will be no changes to the team name but founder Peter Sauber will retire, with the Swiss investment company Longbow Finance SA fully acquiring Sauber Holding AG.
"We are very pleased that by reaching an agreement with Longbow Finance SA we can secure the future of Sauber at the pinnacle of motorsport," said Kaltenborn.
