Sauber and Credit Suisse are selling a majority interest in the Sauber Holding to BMW effective 1 January 2006. In 2006, the German manufacturer will enter a BMW managed team in the Formula One World Championship.
BMW is acquiring shares from Peter Sauber and will then take over the shares held by Credit Suisse by the end of 2008. Peter Sauber will continue to hold some of his shares and will assist BMW as an adviser, but he will withdraw from his operational responsibility.
This announcement confiirms the rumours that have been circulating for a while but it says nothing about William’s future plans once their current partner strikes out on their own.