The Sauber F1 Team's recent financial struggles have been the talk of Formula 1 since the German Grand Prix was completed.
However Russian investment has come to the rescue of the Swiss team and has secured their long-term future in the sport. A development programme will also be put in place for Russia's Sergey Sirotkin who currently races in Formula Renault 3.5.
The deal will see Sirotkin promoted to Formula 1 in 2014 at the tender age of 18 - making him the youngest driver to ever make a start in the sport. The development programme will kick in place after the Young Driver Test and will most likely see him take part in FP1 sessions in the place of Esteban Gutierrez.
The early-announced signing also hints that Hulkenberg is set to go elsewhere in 2014 - possibly to Lotus - should they keep their strong Mexican backing and the talent of Esteban Gutierrez.
Three Russian institutions have come to the rescue of Sauber - who made their debut in Formula 1 back in 1993. The Investment Cooperation International Fund, The State Fund of Development of North-West Russian Federation and the National Institute of Aviation Technologies will all join Sauber as partners, giving them crucial finances.
The teams future was put in jeopardy after it was revealed that suppliers and drivers had not been paid due to their financial problems and that investment was needed for them to potentially survive the year.
The statement released said that the investors will be "incorporating the promotion of the sport Formula 1 in Russia and jointly developing high-technology solutions," before adding: "With the National Institute of Aviation Technologies, one of the leading scientific research institutions in Russia, the Sauber F1 team will benefit from the advanced know-how of the front-end Russian scientists and engineers.
"The objective of the partnership is to open up new perspectives and revenue streams by commercialising jointly developed technologies."
The partnership also includes "further activities for the promotion of" the first Russian Grand Prix that will be held in Sochi in 2014 and "attracting the talented young Russian generation towards motorsport. In particular, a development programme will be set up for the Russian driver Sergey Sirotkin to prepare him as a racing driver for the team in 2014."
Closing the statement, it said: "This extensive co-operation will showcase Russian innovation at the pinnacle of motorsport. At the same time, the Sauber F1 Team will have a solid foundation to increase its competitiveness on a long-term basis."
The news is fantastic to see the saving of one of the sport's most popular and well-loved teams, with the additional finances giving the team room to breath and really develop their car.
However it does feel like they have been pushed into signing the very inexperienced Sergey Sirotkin as a race driver for 2014 so they can get the funding because it seems that they may be compromised by his lack of F1 running in the constructors standings.
Sirotkin may be the new Kimi Raikkonen or Jenson Button, with little experience but will be fast out of the box and take very little time to acclimatise. He is fast and has proved that in junior series but whether he will be fully ready for 2014 bu the end of the season, we will have to see.
They may loose prize-money due to this but the added investment will help them with the longevity of the sport and see them reach their 20 year anniversary in the sport next season.
I also find it hard to believe that Sirotkin is actually nine months younger than myself and he will be making his F1 debut next March. However, with the backing they so badly needed Monisha Kaltenborn can now sigh with relief and the bottom line is, it's better than no Sauber in Formula 1.
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| (c) Octane Photographic |
The deal will see Sirotkin promoted to Formula 1 in 2014 at the tender age of 18 - making him the youngest driver to ever make a start in the sport. The development programme will kick in place after the Young Driver Test and will most likely see him take part in FP1 sessions in the place of Esteban Gutierrez.
The early-announced signing also hints that Hulkenberg is set to go elsewhere in 2014 - possibly to Lotus - should they keep their strong Mexican backing and the talent of Esteban Gutierrez.
Three Russian institutions have come to the rescue of Sauber - who made their debut in Formula 1 back in 1993. The Investment Cooperation International Fund, The State Fund of Development of North-West Russian Federation and the National Institute of Aviation Technologies will all join Sauber as partners, giving them crucial finances.
The teams future was put in jeopardy after it was revealed that suppliers and drivers had not been paid due to their financial problems and that investment was needed for them to potentially survive the year.
The statement released said that the investors will be "incorporating the promotion of the sport Formula 1 in Russia and jointly developing high-technology solutions," before adding: "With the National Institute of Aviation Technologies, one of the leading scientific research institutions in Russia, the Sauber F1 team will benefit from the advanced know-how of the front-end Russian scientists and engineers.
"The objective of the partnership is to open up new perspectives and revenue streams by commercialising jointly developed technologies."
The partnership also includes "further activities for the promotion of" the first Russian Grand Prix that will be held in Sochi in 2014 and "attracting the talented young Russian generation towards motorsport. In particular, a development programme will be set up for the Russian driver Sergey Sirotkin to prepare him as a racing driver for the team in 2014."
Closing the statement, it said: "This extensive co-operation will showcase Russian innovation at the pinnacle of motorsport. At the same time, the Sauber F1 Team will have a solid foundation to increase its competitiveness on a long-term basis."
The news is fantastic to see the saving of one of the sport's most popular and well-loved teams, with the additional finances giving the team room to breath and really develop their car.
However it does feel like they have been pushed into signing the very inexperienced Sergey Sirotkin as a race driver for 2014 so they can get the funding because it seems that they may be compromised by his lack of F1 running in the constructors standings.
Sirotkin may be the new Kimi Raikkonen or Jenson Button, with little experience but will be fast out of the box and take very little time to acclimatise. He is fast and has proved that in junior series but whether he will be fully ready for 2014 bu the end of the season, we will have to see.
They may loose prize-money due to this but the added investment will help them with the longevity of the sport and see them reach their 20 year anniversary in the sport next season.
I also find it hard to believe that Sirotkin is actually nine months younger than myself and he will be making his F1 debut next March. However, with the backing they so badly needed Monisha Kaltenborn can now sigh with relief and the bottom line is, it's better than no Sauber in Formula 1.
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