BMW has announced that it has reached an agreement to sell it’s Formula One operation to the Qadbak Investments company, despite news that the team’s place on next year’s grid is not confirmed.
Earlier today the FIA announced that the Malaysian-backed Lotus team would occupy the thirteenth place in next year’s world championship, with the Hinwil based squad relegated into a reserve role.
However in a statement released by the German manufacturer, the sale of the team to Qadbak, a Swiss-based foundation which represents the interests of certain Middle East and European-based families, had still been successful.
“A strong investor has therefore been found for the Hinwil-based team,” BMW said the statement.
“Qadbak’s interest in the team will be represented by Lionel Fischer, a Swiss national. BMW wishes Qadbak and the Sauber Team every success for the 2010 season and beyond.”
The FIA has announced that it is in discussions with the existing Formula One constructors in an attempt to expand the number of cars on the grid to 28 for next season – a decision which would allow the Swiss team to compete afterall.
“We are pleased to confirm that the FIA has indicated that we may have a place in the 2010 Formula One World Championship,” BMW said in response to the FIA’s annoucement.
“The team expects to line up on the grid for the first race of the 2010 season.”