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

Popular On IndyCarToday.com

Aggressive testing schedule planned ahead of Mick...

Following confirmation Mick Schumacher will make a switch to IndyCar next...
20h ago from MotorsportWeek.c...

Mick Schumacher joins RLL in IndyCar switch

Rahal Letterman Lanigan Racing has announced that Mick Schumacher will...

Popular On TotalWRC.com

Popular On GunnersToday.com

'Brilliant footballer' – Paul Scholes believes...

Manchester United legend Paul Scholes has heaped praise onto Arsenal...
2h ago from CaughtOffside.com

'Arsenal are a different ball game' – Former...

Former Chelsea star Craig Burley has warned the Blues against complacency...
1h ago from CaughtOffside.com

Sources: 'One to watch' – Arsenal in race to...

Arsenal have been monitoring highly-rated Spanish midfielder Rodrigo...
3h ago from CaughtOffside.com

Watch out Arsenal: Thierry Henry names the Chelsea...

Arsenal legend Thierry Henry has heaped praise onto Chelsea's young...
2h ago from CaughtOffside.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.