FROM FINANCIAL TIMES: BMWyesterday sold its Formula One BMW Sauber team back to its founder, Peter Sauber, scrapping a planned deal with Swiss-based group Qadbak Investments, writes Daniel Schäfer in Frankfurt.
The German carmaker said it had agreed on a sale to Mr Sauber in a move to secure the future of the Formula One team, which failed to be a force at the top level this past season.
“The contract is subject to condition the team has a starting place for 2010 Formula One,” BMW said. MORE>
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