Sauber’s owners say changes to the structure of the Formula 1 team’s holding company have not been made with the intention of selling the team.
The team was acquired by Longbow Finance in 2016. Earlier this year a new company, Islero Investments AG, was formed which now controls Sauber Holdings. This company owns the F1 team Sauber Racing plus related companies Sauber Engineering and Sauber Aerodynamic.
“People have completely forgotten that when we took over Sauber it was a matter of urgency and saving all the 350 jobs,” said Picci. “We had to be able to react very quickly.
“We didn’t have the time to prepare a normal independent structure. This is why Longbow came in the picture.”
The company has “rethought” the ownership structure and decided “to disassociate it from a financial investment company with other clients who maybe don’t want to be associated with Formula 1.”
Picci denied the changes were made with the intention of selling the team in the near future.
“No, that’s not an objective. It is not for sale,” he said.
“Of course the door is always open that if one day someone makes us offers which are not refusable… but the objective is a long-term project.”
Sauber is carrying Alfa Romeo branding on its cars for the first time this year as part of a multi-year deal with the manufacturer. Picci denied they are in talks about Alfa Romeo acquiring the team.
“We are open to discussion. But it’s not today. Today they are title sponsors. We do have, together with our friends of Ferrari, a lot of converging interest which makes sense for the two teams.
“But today we are independent and we continue to be independent.”
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