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Sauber F1 team announces change of ownership
The Sauber team has been sold to Swiss investment firm Longbow Finance, in a deal that will result in founder Peter Sauber retiring from all functions. 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 from the board though and be succeeded as chairman by Pascal Picci from Longbow Finance. Sauber said: "Monisha Kaltenborn and I yesterday signed an...
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9y ago from Motorsport.com
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