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Sauber deny Russian deal on brink of collapse
Tuesday 13th August 2013, 20:09 by TF1T Staff
© Sauber Motorsport AG
The media is awash with reports that Sauber's Russian backing is on the brink of collapse, and therefore the team is faced with being sold or closing its doors.
The Swiss team has however denied the latest "rumour" and insists the deal is progressing as planned.
According to German media, the Board of the National Institute of Aviation Technologies (NIAT) - one of the three businesses backing Sauber - has voted against the proposed investment in the Formula 1 team.
The report continues to suggest that the loss of NIAT will result in the loss of around €400 million over several years.
Sauber has however hit back, with a spokesperson saying the team is "astounded at the heedlessness with which some media are prepared to spread false reports and rumours."
They added: "The collaboration with Russian partners, as announced by us, is progressing well. The contract with driver Sergey Sirotkin is in place. Preparations for his involvement in the team, as likewise announced, will start next week following the end of the customary holiday period in the sector."
The spokesperson confirmed that NIAT never intended to invest financially. The relationship between Sauber and the Russian company is purely a "technical cooperation".
With the deal still on the table, the threat of both Ferrari and Pirelli pulling its supply of engines and tyres respectively, despite both parties being owned millions, shouldn't materialise just yet.
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