A group of Indian investors have made an offer to buy the BMW Sauber team.
BMW announced that it will pull out of Formula One at the end of year due to the costs of competing and a lack of results.
However, team boss Mario Theissen has vowed to continue developing the team to attract new investors and ensure the survival of the Hinwil and Munich outfit.
That lifeline could come from an Indian consortium, according to a report by the Times of India.
“Indian investors have made an application to purchase the BMW-Sauber team,” the newspaper quoted unnamed sources as saying.
The group is believed to have placed an offer of around 50 million euros and the deal would see the arrival of Swiss driver Neel Jani, who currently features in the A1 GP series and whose father is Indian.
However, Theissen has confirmed that there are other potential buyers.
“There are several interested parties and we are just about to evaluate the individual proposals,” he explained.