/ Motorsport / Unpaid Ferrari could switch off Sauber engines – report

Unpaid Ferrari could switch off Sauber engines – report

Linked In Share

Jul.15 (GMM/Inautonews.com) Embattled Sauber could have its engine power switched off permanently on the day after the forthcoming Hungarian grand prix.

Germany’s Die Welt newspaper reports that the Swiss team is now EUR 15 million behind in its due payments to customer engine supplier Ferrari.

The report said Ferrari has issued Sauber an ultimatum: pay at least EUR 8 million of the overdue bill by 29 July – the first day of the ‘summer break’ – or have the supply of 2.4 litre V8 engines switched off.

Peter Sauber told the Swiss newspaper Sonntagsblick: “That’s nonsense.”

But if it does happen, the Hinwil based team – reportedly in debt to the tune of almost EUR 100 million – would be without engines for the Belgian grand prix in late August.

The situation is undoubtedly urgent, but all is not lost. Welt reports that Sauber is in talks with the Russian bank SMP, but that the deal requires the approval of president Vladimir Putin.

Another rumour is that FIA president Jean Todt is offering to loan Sauber EUR 10 million, but only if his son Nicolas is installed as team boss.

Until then, Peter Sauber is reportedly paying staff out of his own pocket, while unpaid suppliers – some demanding little more than EUR 100 – lose their patience.

Asked if the team does not have even a hundred euros in the bank, Peter Sauber told the Swiss newspaper Sonntagsblick: “Of course not.

“We have not laid anyone off and have paid the wages on time.

“But you cannot pay certain suppliers and not others. We need to treat everyone equally.

“The situation is serious. It is one of the most difficult situations I’ve had in motor sport.”

He said the birth of the predicament dates back to former owner BMW’s total withdrawal from the sport at the end of 2009.

“There are many teams with enormous problems,” said Sauber, recalling taking back control of the team from BMW. “I am not a dreamer. I knew what I was getting myself into.

“The worst thing was at the same time also losing our long term partner Petronas.

“I could have had a quiet life, but the closure of the team would have hurt me more than the current situation does,” he insisted.

So, while admitting the current situation is painful, Sauber said he is confident.

“The negotiations that are going on are nearing completion. I am convinced that we will succeed in a rescue,” he said.

“But it is clear that we simply need a big, strong partner,” added Sauber, who confirmed he and team boss Monisha Kaltenborn recently travelled to Moscow on two separate occasions.

by Mircea Serafim (my Google+) - Monday, July 15th, 2013 - filed under Motorsport. Image credit: .
Linked In Share
Related Articles


Discuss: Unpaid Ferrari could switch off Sauber engines – report

Leave a Reply
















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Ferrari, Sauber next to reveal 2015 cars
Ferrari, Sauber next to reveal 2015 carsJan.30 (GMM/Inautonews.com) Ferrari and the similarly-powered Sauber teams on Friday separately revealed their new 2015 ...
BMW 2-Series Convertible gets massive photo gallery
BMW 2-Series Convertible gets massive photo galleryBMW has released a large photo gallery with the 2-Series Convertible, marking the introduction of the model on the Old ...
BMW X5 M and X6 M get M Performance parts
BMW X5 M and X6 M get M Performance partsA series of M Performance parts for the BMW X5 M and X6 M have been recently introduced by the German based automaker. The range ...
Check out the Rolls-Royce Phantom Drophead Coupe Nighthawk
Check out the Rolls-Royce Phantom Drophead Coupe NighthawkRolls-Royce has officially introduced a new special version of the Phantom Drophead Coupe, which has been called the Nighthawk ...
BMW 2-Series Family Tourer spied
BMW 2-Series Family Tourer spiedThe second model to be based on the 2-Series Active Tourer, the so-called 2-Series Family Tourer, has been caught on camera as it ...
Honda NSX Type R rendered once more
Honda NSX Type R rendered once moreNew renderings with the 2016 Honda NSX are showing us how the upcoming range-topping version may look like once it will be ...
BMW M2 spied playing in the snow
BMW M2 spied playing in the snowOur spy photographers have managed to capture the new BMW M2 Coupe on camera once again. The development of the BMW M2 Coupe is ...
Honda lowers profit goal as Takata recalls take their toll
Honda lowers profit goal as Takata recalls take their tollJapan's third largest automaker, Honda Motor Co, decided to lower its core annual profit forecast by 6.5 percent for 2015 as it ...
2015 Hyundai Genesis to be launched in the UK
2015 Hyundai Genesis to be launched in the UKThe 2015 Hyundai Genesis sedan will be arriving in dealerships across the United Kingdom this April, as the company has recently ...
Traffic jams might become history thanks to advanced technology
Traffic jams might become history thanks to advanced technologyIn the very likely case you live in a major metropolitan region and drive daily, you always leave home with the knowledge that ...
2015 Lexus NX200t arrives in Australia
2015 Lexus NX200t arrives in AustraliaLexus has announced the arrival of the 2015 NX200t in Australia where the model in question can be yours from 52,500 AUD, plus ...
Recall roundup: Toyota Avalon for fire risk
Recall roundup: Toyota Avalon for fire riskToyota has issued a recall recently for several Avalon models because of a possible fire risk. The Toyota Avalon is the subject ...
US: Houston accident with driver fatality linked to Takata airbags
US: Houston accident with driver fatality linked to Takata airbagsJapan’s third largest automaker, Honda Motor, announced on Thursday that a person driving a 2002 Accord was killed in a traffic ...
Lamborghini Aventador Super Veloce spotted
Lamborghini Aventador Super Veloce spottedNew images with the upcoming Lamborghini Aventador Super Veloce have recently ended up on the web, depicting the most extreme ...
Dubai dealer selling Pagani Huayra and Bugatti Veyron Super Sport
Dubai dealer selling Pagani Huayra and Bugatti Veyron Super SportAn exotic car dealership in Dubai is currently offering for sale to extremely hot rides, the Bugatti Veyron Super Sport and the ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

BMW-2Series-Cabriolet-1
BMW X5 M and X6 M M Performance parts 1
Rolls-Royce Phantom Drophead Coupe Nighthawk 1
Spy-Photo
acura nsx type r 1
Spy-Photo
2015 hyundai genesis uk 1
bugatti veyron super sport for sale dubai 1
paul bailey ferrari laferrari mclaren p1 porsche 918 spyder 1
BMW X3 xDrive35i gets the M Performance treatment 1
Lotus Exige S Automatic 1
Toyota Camry Hybrid SiC prototype 1

More automotive from inautonews
BMW has released a large photo gallery with the 2-Series Convertible, marking the introduction of the model on the Old Continent. Originally shown at the 2014 Paris Motor Show last October, the BMW 2-Series Convertible is being highlighted once again these days, with the help of a massive photo ...
read more
Inautonews Editors Section
US: hot new cars to own in 2015
US: hot new cars to own in 2015Smokin’ is the name of the game and scorching hot is the end result. This is the way we should treat auto sales this year, since anyways most ...
Tips for fuel-efficiency driving during winter conditions
Tips for fuel-efficiency driving during winter conditionsEven though the gas bills are nowhere near the level they were last winter, especially in the US – where a gallon of gas can be purchased even ...
Is the auto industry ready for the aluminum revolution?
Is the auto industry ready for the aluminum revolution?While the fact that a vehicle can have aluminum body has come to widespread attention ever since Ford announced that its best-selling F-150 truck has ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Recall roundup: Toyota Avalon for fire riskToyota has issued a recall recently for several Avalon models because of a possible fire risk. The ... US: Houston accident with driver fatality linked to Takata airbagsJapan’s third largest automaker, Honda Motor, announced on Thursday that a person driving a 2002 ...
Safety Section