Toto Wolff thinks it would be very unwise for Sauber owners to decide to sell the Formula 1 team now. The Mercedes team boss believes that the team will become more valuable in the coming years.
Sauber’s Formula 1 team is officially owned by Longbow Finance. The investment company is headquartered in Switzerland and consists of many Swedish billionaires. Sauber is financially supported by Alfa Romeo, the team’s main sponsor. Lately, there has been more and more noise that the owners are considering selling the team. They are said to be in talks with US team owner Michael Andretti, who would be interested in taking over 80 per cent of the team.
“There’s an offer on the table,” says Michael Schmidt, a Formula 1 journalist at Cars and Sports Podcasts. “The question now is whether the Sauber team owner is happy with it or not. It’s a bit hard to judge them because they don’t need the money urgently and they are big racing fans.” However, Wolff thinks it would be a big mistake for Longbow Finance to sell its Formula 1 team, Schmidt said.
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Wolf advises not to sell
“Toto Wolff told me: Whoever is selling their Formula One team now must be crazy,” Schmidt continues. “The team will be worth a lot more in a year and even more in a couple of years. Formula 1 is booming. They will earn more this year than 2019, so teams will get full compensation. Many countries are lining up to organize the Grand Prix. There is a regulatory change coming that could level the playing field. Chances are and with the budget cap no one knows who will win. This generates more interest, which means more money comes in, which means the value of the team goes up. Toto Wolff says he’s definitely not going to sell it now.”
