BMW have published on Friday that they have reached an contract with Peter Sauber regarding the sale of the BMW Sauber team. The agreement is matter to the squad having a set to door open for the 2010 season and capital that the considered sale to Qadbak Investment Ltd will not be finished. The German car maker exposed in July that they would end their participation in Formula One racing at the end of the year after four seasons in the sport. BMW buy the team in 2005 from Sauber, who founded the outfit in 1993.
I am very thankful that we have found this answer, Sauber said. it means we can stay the Hinwil location and the greater part is work area. I am persuaded that the new team has a very good outlook in Formula 1, whose present conversion with new framework conditions will advantage the private teams. A additional contract with Sauber propose personnel cuts from the current level of 388 to around 250 workers. Even though BMW have said they regret the need for these cutbacks, they have stressed that the reorganization of the team has made them important.