Peter Sauber is frustrated with BMW’s behavior

Behind the scenes of Formula 1, Mario Theissen is facing a very tumultuous period following the withdrawal of the BMW brand from the world of Formula 1 at the end of the season.

Negotiations took place with the former team owner, Peter Sauber, over the past week regarding the sale of the Hinwil facilities and the management of the staff. However, with the announcement from BMW, neither party was able to reach an agreement. Sauber announces that the price asked by BMW is simply too high.

« Negotiations with BMW failed because their demands were too high for me, » declares Peter Sauber to Autosport. « Consequently, I was unable to sign the Concorde Agreements that guarantee funds to the teams and would have secured the future of the team. »

BMW, not being able to sign the agreements themselves, thought that Peter Sauber would be able to do it: “Since the announcement on July 29 of our strategic orientation, we have done everything in our power to quickly reach an agreement on the sale of the team,” said Theissen in a statement. “Unfortunately, despite all efforts, this turned out to be unsuccessful.”

Despite the willingness of both parties to reach an agreement, the Concorde Agreements, which ensure the future of the team, have not been signed at the moment. The goal now and in the coming weeks is to work together to find a solution with interested parties and Peter Sauber.