Statement of BMW's Mario Theissen on current situation

One week ago, the BMW Sauber F1 Team announced that it will pull out of Formula One after the 2009 World Championhip season. They have, since that announcement, been trying to sell the team quickly in order to be able to sign the Concorde Agreement. This however was unsuccessful as can be read in the statement of BMW Motorsport Director Mario Theissen.

Mario Theissen: "Since the announcement on 29 July of our strategic realignment, we have done everything in our power to reach a rapid agreement on the sale of the team based at Hinwil. Regrettably, despite every effort, this has proved unsuccessful. The tight timeframe we faced simply did not allow us and the interested parties and investors enough time to find a solution for such a complex transaction. This means the team cannot sign the Concorde Agreement at present. The aim now is, over the coming weeks, to find a solution together with potential interested parties and Peter Sauber. Beyond that, we will see the 2009 season through to its conclusion with our unstinting sporting commitment."