Uncertainty still around BMW Sauber's buyer Qadbak...

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Why ? I can't understand at that level of finance how these mysterious people get their foot in the door. Doesn't a company like BMW look into who's handing them a cheque for millions of dollars ?
Big time shoot a dime frauds should be rather easy to detect compared to the real established money holders. Special care in investigating investors must be a priority in a globally soft market one would think.

sessions

Why I'm not surprised? The same story as with Polish shipyards. Big expectactions and media hype after initial announcement and when it was time to pay the money, the company from Qatar became non-existent. Sauber won't race next year, deal with it

2008 Prediction Champion

Barteks you may be right, but I sure hope not. I think because of the Hinwil facility the team will prevail. F1 buyers look at potential and right now Sauber looks like they will be given the green light because of Toyota's exodus. If they have secured the entry prerequisites it could provide additional qualified investors in time for Sauber to compete.

Hinwil with all its capabilities, Peter Sauber, a car last season and one in the works, equals a strong potential, which adds up to the reality of being bought by solid investors. HOPEFULLY !

sessions

i would like to add a lil' bit here... i agreed with the post above mine here... there should be a solid investors for Sauber next season... and i am pretty sure that the main investor after Sauber been given a green light for next season would be Petronas. i've been reading here and there about this and once again, i think that Sauber will be able to take that 13th grid slot...

Good point. Petronas pays (eventually) for the Sepang GP and they want to stay in F1. Especially now when they have more and more competition in Asia (Singapor, Korea).

Peter Sauber had always had great connection with the Malaysian state owned company.

The biggest problem is licence. From what I read Toyota can face legal challenges for not fullfilling CA so I wonder if the sale of Toyota's licence to Sauber would not cure both problems?

Sauber's main problem is that, they chose Ferrari engine instead of Cosworth.
FIA forced all new teams to use Cosworth because of they mad politics.



Edited 2 time(s). Last edit at 2009:11:21:13:38:56 by patgaw.

But Sauber is not a new team. Gemm's right the delay is caused by FIA/Toyta/Suber layers sorting out the situation.

Russell King, a senior representative of Qadbak, the offshore company that owns Notts County, has had £1.9m of his assets frozen by the courts in Jersey over an unpaid debt. King emerged as a key figure at the heart of a web of companies connected with the Notts County takeover.

As well as leading negotiations with the supporters' trust over the purchase of the club by the investment vehicle Qadbak in July, and the appointment of Peter Trembling as chief executive, King and his business associate, Nathan Willett, were involved with Sven-Goran Eriksson's recruitment to Meadow Lane as director of football. The actual owners of the club have never been revealed and Eriksson admitted yesterday that he had never met them.

In a separate development it emerged that Eriksson had been promised a paper fortune by Willett and his father, Peter, who is a director of Notts County, if he worked on a separate company of which they are the sole directors.

The former England manager was handed a substantial shareholding in a Zurich-registered company called Swiss Commodity Holding AG, whose directors are the Willetts. Like Sol Campbell, who quit the club on Tuesday, Eriksson was asked to work as an ambassador for the company's many interests overseas.

hmm... it seems like something is still missing here... if Russell King assets is still frozen by the courts in Jersey, I wonder how the Notts County still can survive until now eventhough Sven-Goran Eriksson being replace by Hans Backe, the Notts County still under Qadbak Investments??? can someone please tell me here??? i think that i am making the right point here... am i? i agree with pcyryl too... this thing, the entry of 13th team thing is being delayed by those FIA, Toyota punishments matter...

As I see it his frozen assets are something like a deposit/security. It's not that it is all his got. Still his connections are still rumors.

nothing new really. Simply there are no updates lately...

FIa will decide though before the end of November...

Racing against the machine!

So decision expected this week.

2008 Prediction Champion

well, it seems like those rumours still can't prove or show anything which can make Sauber team lost their grid place for next season... i truly feels that Sauber will gain their grid place for next season... 99% sure according to my intuition.... 1% goes to something that nobody will expect it to happened... GO SAUBER GO...!!!

The team deserves better than this. I hope that its future can be secured.

What is the asking price? It seems strange that BMW is playing hard-ball with its F1 interests when it gave MG Rover away taking a massive financial hit at the same time.

Williams and proud of it.

Sounds convincing:

[en.f1-live.com]

Perhaps this will bring back Peter's original buyout bid from earlier? I sure hope BMW didn't plan it this way: "What? Um...Qadbak is only a shell company? Ooops...Erm...sorry guys. Hey, we tried..." Surely now they will take at least some money, rather than a big fat zero?



Edited 2 time(s). Last edit at 2009:11:25:02:04:26 by SauberF1-Canada.

fortunately got latest news that Sauber had another investor that seems a guaranteed well-known investor among FIA especially Bernie Ecclestone... well, there's also news which the thirteen grid slot is guaranteed for Sauber team if they have a perfect investor... hope that Sauber can go through all this soon....