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BMW Has Agreement to Sell Its Formula 1 Team

With the 2009 Formula 1 season still under way, there’s already plenty of silly-season action. This year’s driver/team shuffle is shaping up to be one of the most exciting - and busy - in a while.

Today’s first tidbit is that Lotus will re-enter the grid as one of three new teams approved by the FIA for the 2010 season, the other three being Manor Grand Prix, Team US and Campos Meta. The Lotus team will initially be based in the U.K. but will later move to a permanent home at Malaysia’s Sepang circuit. (Remember that Lotus is now owned by Malaysia’s Proton.) Tony Fernandes, founder and CEO of the Malaysian company that owns Air Asia, will be team principal, and F1 veteran Mike Gascoyne has signed on as technical director. Lotus was to be the 13th and final team allowed in for 2010, but…

… BMW has secured a buyer for its F1 operations, after announcing that it will pull out of the series at the end of this season. It’s not yet clear whether new owners Qadbak Investments Ltd. - a Swiss consortium representing the interests of several well-off Middle Eastern and European families - will get a pair of grid spots for a 14th team, since BMW effectively lost its place for 2010. The FIA has said that the team is next in line if any others drop out and that it’s actively pushing to get a 14th team allowed by the rules, so there’s a good chance we’ll see Sauber back in the paddock next year.

Now, the question remains as to who will be in all of these extra cockpits, or the existing ones, for that matter.

Related posts:

  1. BMW Quits Formula 1
  2. Lotus Returns to Formula 1 for 2010
  3. Schumacher Cancels Return to F1
  4. Honda Withdraws from Formula 1 – car News
  5. Monday Morning Crew Chief, Wednesday Afternoon Edition: Why Formula 1 Could Disappear Up Its Own Fundament

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BMW Has Agreement to Sell Its Formula 1 Team
BMW Has Agreement to Sell Its Formula 1 Team

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BMW Auto Insurance for Car Models

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