Sauber F1 in contact with a wealthy Canadian investor
The Sauber team is reportedly in advanced talks for Lawrence Stroll, a billionaire businessman who made his fortune in the textile industry, to make a substantial investment in the team. Owner of the Mont-Tremblant circuit in his country, the Canadian is a motorsport enthusiast and could thus help the Swiss team out of its current financial rut.
Currently, Sauber’s sporting situation is rather concerning as the team has not yet scored any points in the championship. It is in 10th place, behind Marussia, which managed to get on the scoreboard thanks to Jules Bianchi’s feat in the streets of Monaco.
But from a financial standpoint, Sauber’s situation is also concerning. After failed negotiations to bring in a Russian investor, the team led by Monisha Kaltenborn is reportedly close, according to the website Motorsport.com, to reaching a deal with Canadian businessman Lawrence Stroll.
This Westmount native made his fortune in textiles through the Ralph Lauren and Tommy Hilfiger brands but is above all a passionate motorsport enthusiast, who is also a Ferrari dealer in Canada. The connection with Sauber thus seems obvious since the Swiss team has been powered by the Scuderia for several years now.
Furthermore, Lawrence Stroll’s son, Lance, is a member of the Ferrari Driver Academy and competes in the brand-new Italian F4 championship, where he is already leading the standings after the first four meetings.
According to the site Motorsport.com, Stroll and Bernie Ecclestone were reportedly in negotiations to purchase CVC Capital, which holds more than a third of Formula 1 rights. However, the discussions never came to fruition.
For now, at Sauber, Monisha Kaltenborn has refused to comment on the situation when questioned about it in Monza last weekend. It’s also unclear whether Stroll would simply invest in the team by bringing in capital or if Sauber could completely change hands.
