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

Marco Bezzecchi reveals cause of ‘disappointing’...

Marco Bezzecchi revealed “braking more softly” may have been the...
18h ago from MotorsportWeek.c...

German GP signs deal to remain on MotoGP calendar...

The organisers of the German GP have announced that the race will remain...

Popular On IndyCarToday.com

IndyCar Iowa – Race 1 Results

The first race of IndyCar’s double-header weekend from Iowa Speedway...
11h ago from MotorsportWeek.c...

Taylor Barnard rejected McLaren IndyCar and WEC offers...

Taylor Barnard has turned down the chance to race for Arrow McLaren in...
12h ago from MotorsportWeek.c...

Popular On TotalWRC.com

Popular On GunnersToday.com

'Arsenal now frontrunners' after out-bidding Liverpool...

Arsenal are now reportedly the frontrunners for the transfer of Salford...
32m ago from CaughtOffside.com

Surprise PL club interested in signing player wanted...

Wolverhampton Wanderers are reportedly planning a summer raid for Real...
9h ago from SportsKeeda.com

Crystal Palace open to cash plus swap deal offer with...

Crystal Palace are reportedly open to a cash plus player bid for Arsenal...
10h ago from SportsKeeda.com

Chelsea hold fresh talks with player linked with a...

Chelsea have commenced steps to hijack Arsenal's move for Crystal Palace...
14h ago from SportsKeeda.com

Comments

Hottest News

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.