Formula 1

Sauber rescue deal thrown into doubt

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The future of the Sauber deal is once again uncertain as the Russian rescue deal announced a few weeks ago hits the buffers.

Just last week Sauber team boss Monisha Kaltenborn admitted there was a delay in the deal and yesterday it emerged Pirelli have yet to be paid by Sauber for their 2013 tyres.

Ferrari too are yet to be paid for their engines and now the marque Italian company is threatening to switch off the engines unless the bill is at least part paid by the end of the August break.

"The time bomb is ticking", according to Bild correspondents Helmut Uhl and Frank Schneider.

Now the whole rescue deal has been thrown into doubt as the future of Oleg Sirotkin's position as head of the National Institute of Aviation Technologies is also uncertain. 

Sirotkin is an integral part of the rescue package for Sauber and his son Sergey, 17, is set to make his debut with the Swiss team in 2014 should the deal go ahead.

Bild reported on Monday that Sauber's financial situation had taken a "dramatic" turn for the worst with "insolvency" looming over the team.

"The Russian sponsor rescue could fail," the latest media report read.


"According to our information, the NIAT board has voted by large majority against the EUR 400 million investment," added Bild.

It is understood that Sauber bosses Kaltenborn and Peter Sauber spent the first part of the August break in Russia looking for alternatives should the NIAT deal collapse.


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Formula 1

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This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.

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