BMW received several takeover offers for 2010

The BMW Sauber team – which will withdraw from Formula 1 at the end of 2009 – has confirmed receiving several takeover offers. The team, through its managers and main stakeholders, will evaluate the candidates very soon.

The German-Swiss team decided to close shop after BMW, which had purchased the team from Sauber in 2005, decided to realign the brand strategically: the crisis and the team’s poor performance had taken their toll on BMW’s F1 division.

The announcement, unpredictable, was disruptive in the F1 world just as everything seemed to be getting back to normal in 2010 with the creation of three new teams. BMW, however, sought to reassure by stating that the future of the structure, employees, and drivers would be secured. Mario Theissen and Peter Sauber are working tirelessly to guarantee a backup solution.

« It’s not easy but there are several solutions », commented the team manager to a German newspaper this weekend in Valencia. « There are very interested investors, but we are trying to highlight those capable of creating a real business plan. We are therefore in the process of evaluating them. » Continued Mario Theissen. « Fortunately, I am assisted by Peter [Sauber] who uses his knowledge to attract other candidates. »

For the record, Peter Sauber had tried to buy back his former team a few weeks ago by making an offer to BMW. The German group had then refused the proposal for financial reasons: the offer was not substantial enough. Nevertheless, Mario Theissen has already considered taking over the team himself. The German could thus replicate the scenario orchestrated by Ross Brawn a few months ago when he took over Honda F1.

« It’s a possibility, but I don’t want it for now. The priority is to secure the future of the employees as the team leader, not as a director. After that, anything is imaginable for the future…

Theissen also confirmed that the BMW team was destined for sale this season, regardless of performance: « The situation would have been the same with better results. The F1 branch was too expensive for BMW and it no longer aligned with the strategy employed by the group. This doesn’t happen overnight. Moreover, signing the Concorde Agreement hastened the announcement, as the team could not sign such an agreement… »

The Concorde Agreement signed by all FOTA members guarantees the FIA a presence in the F1 World Championship at least until 2012.