BMW to lose major F1 backer
03/24/08
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| Mario Theissen |
(GMM) After the Malaysian grand prix, Mario Theissen refused to entertain speculation that the BMW-Sauber team is set to lose its major Swiss backer, Credit Suisse.
It was reported on Sunday that the Hinwil based team, headed by Theissen, will no longer be supported by the bank in 2009 or beyond, following eight years of prominent sponsorship.
The German said at Sepang: "We do not comment on speculation."
03/23/08 (GMM) BMW Sauber will lose its long time sponsor Credit Suisse, a Swiss bank, at the end of 2008, reports on Sunday said.
Credit Suisse entered the sport with Peter Sauber's independent Hinwil based squad eight years ago, but does not intend to renew its latest contract beyond this year, the Swiss Sunday newspaper Sonntags Zeitung claimed.
The newspaper said the decision has been made internally, but not officially communicated to the now German owned outfit or public.
It is suggested that the reason for the decision is the recent departure of F1 fan Oswald Grubel as Credit Suisse's CEO, after he was replaced by Brady W. Dougan, who has not attended a single grand prix in his new tenure.