Sauber boss seeks new backer as financial crisis deepens
Team principal Monisha Kaltenborn is in talks with potential investors after wage delays and supplier issues threaten Sauber’s participation in the 2016 Formula One season.
Sauber’s Formula One future is under threat as team boss Monisha Kaltenborn works to secure new investment after a series of missed wage payments and supplier delays left the Swiss team in financial turmoil ahead of the 2016 Chinese Grand Prix.
Wage delays and supplier issues hit operations
Sauber’s financial difficulties became public when staff wages for February and March were paid late. The team employs about 300 people at its Hinwil base, and the wage delays followed reports that Sauber had also failed to pay key suppliers, forcing a late launch of its 2016 car. Driver Felipe Nasr confirmed the car’s development was hampered by these payment problems, with his own chassis assembled only at the last minute for the Australian Grand Prix.
The technical impact was evident in Bahrain, where Nasr complained his car was not performing as well as Marcus Ericsson’s. Nasr said his chassis was newly built and had not undergone the same testing as his teammate’s, leading to further frustration within the team. Sauber then planned to disassemble and rebuild Nasr’s car before practice in China to try to resolve the issue.
Uncertainty over Sauber’s future races
Amid the internal problems, speculation grew that Sauber might not have the funds to travel to Shanghai for the Chinese Grand Prix. While some sources close to the team tried to downplay these rumours, the absence of Kaltenborn from the Bahrain paddock fuelled concerns. She missed the official FIA press conference, citing personal reasons, but was reportedly in negotiations with potential investors who could provide more than just sponsorship, possibly taking a majority stake in the team.
Staff and drivers feel the strain
Kaltenborn apologised to staff for the ongoing wage delays, thanking them for their loyalty during a period of uncertainty. The team’s financial crisis has left employees and drivers in a precarious position, with Nasr openly voicing his dissatisfaction and the team’s technical progress clearly affected. The prospect of new ownership or a major investor is now seen as the only route to stabilising Sauber’s finances and securing its place on the grid.
Sauber’s struggle is not unique among smaller Formula One teams. The sport’s financial structure has put several outfits at risk in recent years, with Sauber’s case echoing the pressures faced by rivals such as Force India and Lotus. For more on Sauber’s recent financial pressures, seeMaldonado visits Sauber as team faces financial pressure.
