Sauber

Sauber

Sauber:

Sauber F1 Team is a Swiss Formula One team. It was founded in the 1970s by Peter Sauber, who progressed through hillclimbing and the World Sportscar Championship to reach Formula One in 1993.

Having not won a Grand Prix as an independent, the team was sold to BMW in 2005, and competed as BMW Sauber from 2006 to 2009, scoring one victory. At the end of the 2009 season, however, BMW pulled out of Formula One and the team’s future remained uncertain for several months, until it was sold back to Peter Sauber and granted a 2010 entry. However, due to issues with the Concorde Agreement, the team remained as “BMW Sauber” for the 2010 season. In March 2010, Peter Sauber announced plans to change the team name during the season, but the FIA announced that they would have to wait until the end of the season to change their name. From the beginning of the 2011 Formula One season the team dropped BMW from their name.

Peter Sauber currently owns a controlling 66.6% stake in the team, with the remainder belonging to CEO Monisha Kaltenborn, who has been a leading figure in the team since BMW’s withdrawal.

By: http://about.me/paraschhabra

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