Sauber F1 team announces change of ownership

Following months of speculation about new investors coming on board, the Hinwil-based outfit announced on Wednesday that the shares held by Peter Sauber and team principal Monisha Kaltenborn had been purchased by Longbow Finance. The deal secures the F1 future of the team – whose name will continue – and Kaltenborn will remain on as team principal and CEO. Peter Sauber will step down ... Keep reading