Eddie Jordan urges Peter Sauber to sell struggling F1 team
Eddie Jordan has publicly advised long-time friend Peter Sauber to sell his Formula One team, citing mounting financial and technical pressures in 2014.
Eddie Jordan has called on Peter Sauber to sell his Formula One team, warning that Sauber can no longer overcome its financial and technical disadvantages after a difficult start to the 2014 season. Jordan, who sold his own team in 2005 and now works as a television pundit, said the time had come for Sauber to consider retirement from the sport.
Jordan made his comments in an interview with Swiss newspaper Blick, reflecting on his own experience leaving team ownership. He described selling up as the best decision of his career, adding that he has enjoyed life more since stepping away from the stresses of running a Formula One operation.
Sauber's position became more precarious after the Monaco Grand Prix, where Marussia moved ahead of the Swiss outfit in the constructors' standings. Veteran F1 correspondent Roger Benoit described the situation as "embarrassing" for Sauber, who had built a reputation for honesty and perseverance in the paddock but now faced what Jordan called the team's biggest crisis yet.
Financial and technical pressures mount
Jordan said Sauber could no longer compensate for its disadvantages, both financially and with its engine supply. He argued that the team had reached a point where continuing would only increase the damage, and that selling was the only realistic option left. "Before the damage is even greater, the best solution would be to stop and sell the team," Jordan said. He emphasised that the situation was not sustainable, with Sauber unable to match rivals on or off the track.
The financial struggles were not unique to Sauber. Caterham, another backmarker, was also reportedly up for sale, with speculation in Monaco linking former Benetton and Renault boss Flavio Briatore to a possible purchase. Briatore dismissed the idea, saying he would not buy a team that was losing money. Caterham's owner Tony Fernandes did not respond to questions about the team's future at the time.
Sauber's future uncertain
Jordan's advice came as Sauber's prospects for reversing its decline looked bleak. The team faced a widening gap to rivals on the grid and little hope of attracting the investment needed to compete with larger, manufacturer-backed outfits. With both financial and technical challenges mounting, the question of whether Sauber would find a buyer or be forced to exit the sport hung over the paddock.
For further background on Sauber's financial situation and the possibility of a change in ownership, seeMarchionne Leaves Door Open for Alfa Romeo Takeover of Sauber F1 Team.
