Piquet Snr to buy BMW Sauber - Reports

[ioan]

Well the deadline for him to take over BMW and sign the Concorde Agreement has passed yesterday unfortunately. Maybe 2011 then?

What a pity.

Apparently BMW wanted more than Sauber thinks would have been fair and as a consequence they will lose out on the commercial income warranted by the Concorde agreement.
I suppose BMW are OK with paying redundancies for 700 people! :\

http://www.autosport.com/news/report.php/id/77574

[Cooper_S]

Sauber forgot that the 80% he sold in Sauber was worth a lot less than the 80% of BMW.Sauber he wished to purchase...

This is just round 1 of the negotiations... but if no sensible buyer is found they YES, I am sure BMW can afford to pay redundancies, they will after all be saving 100's of millions plus the assets of the operation.

[ioan]

Sauber forgot that the 80% he sold in Sauber was worth a lot less than the 80% of BMW.Sauber he wished to purchase...

The economic climate changed since than.
Also Sauber were 5th or so in the championship when he sold the team because BMW wanted it. Now BMW are looking like 2nd worse or worse team out there and they are looking to sell the team.

This is just round 1 of the negotiations... but if no sensible buyer is found they YES, I am sure BMW can afford to pay redundancies, they will after all be saving 100's of millions plus the assets of the operation.

And wouldn't it be cheaper to only pay half of that and get rid of the rest for free?!

If they are asking too much than they might as well keep it cause it isn't the right moment to try keeping the price high.

[Cooper_S]

Peter thought he had BMW over a barrel.... he didn't simple as that...

[truefan72]

BMW/Thiessen's ludicrous demands and stance in an attempt by Sauber to buy out the team is a perfect example of the poor decision making and mismanagement of the team. For any out there who still had doubts as to Thiessen's incompetence, the failure to have Sauber recoup the team, the missing of the Wednesday CA deadline, and the loss of securing millions in secured funding for the team should be all one needs for the lowlight reel.

[Roamy]

BMW/Thiessen's ludicrous demands and stance in an attempt by Sauber to buy out the team is a perfect example of the poor decision making and mismanagement of the team. For any out there who still had doubts as to Thiessen's incompetence, the failure to have Sauber recoup the team, the missing of the Wednesday CA deadline, and the loss of securing millions in secured funding for the team should be all one needs for the lowlight reel.

Absolutely Truefan but just the mention of BMW to the Euro's and DOCTOR Theissen can do no wrong. He is a Loser and now has screwed the lives of 700 people. Look how classy Hond'a departure was in comparison.

[ioan]

BMW/Thiessen's ludicrous demands and stance in an attempt by Sauber to buy out the team is a perfect example of the poor decision making and mismanagement of the team. For any out there who still had doubts as to Thiessen's incompetence, the failure to have Sauber recoup the team, the missing of the Wednesday CA deadline, and the loss of securing millions in secured funding for the team should be all one needs for the lowlight reel.

Please point out where you know from that these are Theissen's demands and stance.
I'm looking forward to see your in depth information on this matter.

[ioan]

Absolutely Truefan but just the mention of BMW to the Euro's and DOCTOR Theissen can do no wrong. He is a Loser and now has screwed the lives of 700 people. Look how classy Hond'a departure was in comparison.

Why am I not surprised to see the hater back?
The question above applies to you too redneck. Make sure you have something to cover your stupid remarks about Dr. Theissen and the Euros.

[N. Jones]

It would be nice to see Peter Sauber in control of the team again.

However it plays out I just hope to see 13 teams on the grid in Australia.

[ClarkFan]

BMW/Thiessen's ludicrous demands and stance in an attempt by Sauber to buy out the team is a perfect example of the poor decision making and mismanagement of the team. For any out there who still had doubts as to Thiessen's incompetence, the failure to have Sauber recoup the team, the missing of the Wednesday CA deadline, and the loss of securing millions in secured funding for the team should be all one needs for the lowlight reel.

From the wording of the report in Motorsport.com, it sounds more like the Board told both Sauber and Thiessen to buzz off.

http://motorsport.com/news/article.asp?ID=339864&FS=F1

Not sure if that can correctly be hung on Thiessen, although the Board could have been saying, "You squandered hundredes of millions of the company's money and now want to buy the team for a song? B****r off!"

But the real question the Board has to face is how much a 2nd-tier F1 team is worth in a rotten economy, without a Concorde revenue stream. The team currently leading both the WDC and WCC can't find a decent lead sponsor. Aside from the wind tunnel, getting $0.05 for 80% of the rest of the operation may represent $0.05 more than fair market value. Shutting it down gets $0.00 less severance/layoff costs.

ClarkFan