Peter Sauber might not yet hang up the headphones ahead of his 70th birthday...

Is Peter Sauber rethinking his retirement plans?

The cigar-smoking team owner seems to have backtracked slightly on his original plans to leave Formula 1, judging by recent comments he’s made on Austrian TV.

The Swiss team owner has said on numerous occasions of his desire to have a proper succession plan in place by the time he turns 70; he will be 69 years old later this season.

So far, he seems to have started the process, recently handing over a one-third stake in the team to Monisha Kaltenborn, the Indian-born Austrian national who has been touted as ‘the most powerful woman in Formula 1’.

He has also looked to the next generation, awarding his son Alex a prominent directorship position on the team’s board.

But it looks like retirement could be a little while longer, according to comments made on Servus TV.

“I’m going to stay at least until we are able to stabilise the team in a financial sense”,”he said.

“I want to lead the team back into a secure position and establish it at a good level. If I succeed, my mission is fulfilled.”

He might be on the right path. The team enjoys solid backing from Mexico, assisted of course by the presence of Sergio Pérez, who has already claimed two podium finishes this season in the team’s Ferrari-powered C31 challenger.

When he was reminded of his 70th birthday deadline, Sauber smiled and hinted: “The exact date [I will retire] is still unclear.

“To watch the races only on television is the worst thing of all,” he added.

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Richard Bailey

Founder & Chief Editor at MotorsportM8
Hasn't missed a Grand Prix since 1989. Has a soft spot for Minardi. Tattooed with 35+ Grand Prix circuits.