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BMW Managed F1 Team from 2006 after Sauber Takeover

German car manufacturer BMW has acquired a majority shareholding in the Hinwil, Switzerland based Sauber Formula One team and will manage its racing activities from 2006.

The acquisition was finalised by the BMW Board of Management on Tuesday and means that, for the first time in its history, BMW will be competing independently in Formula One.

Professor Burkhard Göschel, BMW Board Member for Development and Purchasing said, “This decision is a strong, long-term affirmation of BMW’s commitment to Formula One. We anticipate that Formula One will emerge strengthened from the current restructuring phase and that it will continue to represent the top echelon of motor sport for the future as well. For BMW, Formula One is thus the right platform for demonstrating our competence as a car manufacturer.

“Success in Formula One increasingly depends on the perfect interplay of all factors. That is why we have resolved to extend our involvement beyond our present role of engine partner. With a team managed by BMW we will, as of next year, take on responsibility for the entire package, which will include the key factors of the chassis, tyres and drivers.

Read the full article here.

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