BMW-Sauber loses Crédit Suisse as a sponsor
After months of speculation, Credit Suisse, the Swiss bank, finally confirmed that it no longer wished to sponsor the German team BMW-Sauber. The rumor circulated throughout last year about the bank’s intention to withdraw its sponsorship dating back to the Peter Sauber era, a time when BMW did not exist. And for good reason, the […]
After months of speculation, Credit Suisse, the Swiss bank, finally confirmed that it no longer wished to sponsor the German team BMW-Sauber.
The rumor circulated throughout last year about the bank’s intention to withdraw its sponsorship dating back to the Peter Sauber era, a time when BMW did not exist. And for good reason, the German team decided in 2006 to buy out Sauber.
The reason would be the departure of Credit Suisse’s CEO, Formula 1 fan Oswald Grubel, who was replaced by Brady W. Dougan.
« The team is doing well. Therefore, the time has come for us to say goodbye, » said the spokesperson for Credit Suisse, Matthias Friedli, to the Sunday newspaper SonntagsBlick.
Grubel said he was disappointed by this information. The contract between the two parties was estimated at 17 million euros per season.
