News Details

Sauber presence in Melbourne not in doubt despite late staff payments

 XPB Images Sauber CEO Monisha Kaltenborn acknowledged that the Swiss outfit had not yet paid in full the February wages of its staff. Cash-flow difficulties which emerged for the Hinwill-based outfit last year had led it to ask F1 boss Bernie Ecclestone for an advance on championship payments in November. Still, the team's financial woes lingered forcing a slight manufacturing delay of its 2016 challenger, Sauber introducing its C35 during the second week of pre-season testing in Barcelona. "Some of the February salaries are still outstanding," CEO Kaltenborn told Blick media. "I deeply regret that. “It’s tense. Right now, it’s the most cost-intensive time...
Full Story »
9y ago from F1i.com 0
Share

You May Also Be Interested In...

Sauber F1 future is “extremely uncertain”

Sauber will race in Melbourne next weekend, notwithstanding the financial...
9y ago from ThisIsF1.com

Sauber hasn't paid salaries to over 300 staff workers

Midfield runner, Sauber F1 by the looks of it have gone ‘into debt'...
9y ago from F1Hub.net

Sauber staff not paid in full

Sauber have confirmed to Sky Sports that the team haven't paid their staff...
9y ago from SkySports.com

Sauber confident of resolving cash flow problem

Sauber confident its financial plight will be resolved Sauber boss...
9y ago from SpeedCafe.com

Elsewhere On The Network

Popular On MGPToday.com

Popular On IndyCarToday.com

Chip Ganassi Racing lands new sponsor for Kyffin...

Chip Ganassi Racing has announced a new sponsor for the team’s #8 entry...

IndyCar announces independent officiating system

The NTT IndyCar Series announced on Thursday that it will implement a new...

Popular On TotalWRC.com

Yohan Rossel and Nikolay Gryazin spearhead Lancia’s...

Team Lancia Corse HF has announced the 2025 WRC2 championship runners-up...

Popular On GunnersToday.com

Arsenal dealt blow as Mikel Arteta confirms injury to...

Arsenal manager Mikel Arteta has revealed that Ben White has suffered...
2h ago from SportsKeeda.com

Arteta wants to sign 'amazing' 26-year-old to get the...

Arsenal are reportedly interested in signing the AC Milan attacker Rafael...
4h ago from CaughtOffside.com

Arsenal 2-1 Wolves: Late joy but considerable worry...

Match report – Player ratings – Arteta reaction The game...
6h ago from Arseblog.com

“Carried the team on his back”, “One man army”...

Arsenal fans were left in awe of Bukayo Saka’s performance during their...
14h ago from SportsKeeda.com

Comments

Hottest News

Herta offers feedback on first official F2 test in Abu Dhabi

Cadillac F1 reserve driver Colton Herta made a... Read More »
55m ago from F1i.com

Ferrari chairman rejects 1.1bn offer

Ferrari F1 chairman John Elkann has rejected a... Read More »
1h ago from GPFans.com

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.