The Sauber F1 Team is refusing to comment on the latest rumours of a major – and much-needed – investment in the Swiss squad.
Reports surfaced over the Italian Grand Prix weekend that claimed Canadian fashion billionaire Lawrence Stroll was in talks over a possible investment in the team. Stroll, ranked as the 815th richest person in the world, made much of his fortune in the fashion industry, most notably with acclaimed designer Michael Kors.
Known to be a keen motorsport enthusiast, Stroll owns the former F1 venue, the Circuit Mont-Tremblant in Quebec, Canada. His son, Lance, is a member of Ferrari’s driver programme and currently races in the Italian Formula 4 Championship.
The Sauber team has struggled financially in the wake of the sport’s latest regulations overhaul that saw the arrival of complex turbocharged power united and advanced Energy Recovery Systems. The Hinwil squad is currently suffering the worst season in its history, having failed to score a single points finish to-date.
Also impacting the team was a series of failed bids by Russian investors to buy into the team, whose efforts were subsequently thwarted in the fall-out of the Russian-Ukraine territory dispute.
The sport’s failure to agree to cost-capping measures have placed pressure on a number of the smaller and privateer outfits, and Sauber has been particularly vocal in airing its concerns in this matter. The team has been actively seeking investment to secure its long-term future.
Image via XPB Images