Russian funding secures Sauber future

Sauber have announced a partnership between the Investment Cooperation International Fund, the State Fund of Development of North-West Russian Federation and the National Institute of Aviation Technologies with Sauber Motorsport AG, incorporating the promotion of the sport Formula 1 in Russia and jointly developing high-technological solutions.

"With the National Institute of Aviation Technologies, one of the leading scientific research institutions in Russia, the Sauber F1 team will benefit from the advanced know-how of the front-end Russian scientists and engineers. The objective of the partnership is to open up new perspectives and revenue streams by commercialising jointly developed technologies.", the team's statement reads.

"The partnership includes further activities for the promotion of the inaugural Formula 1 Grand Prix in Sochi in 2014 and attracting the talented young Russian generation towards motorsport. In particular, a development programme will be set up for the Russian driver Sergey Sirotkin to prepare him as a racing driver for the team in 2014."

"This extensive co-operation will showcase Russian innovation at the pinnacle of motorsport. At the same time, the Sauber F1 Team will have a solid foundation to increase its competitiveness on a long-term basis."

The team's principal, Monisha Kaltenborn made it no secret recently that the team was in financial difficulties and that it was exploring options to secure additional funding. Rumours also suggested that Nico Hulkenberg might leave the team at the end of the season if the situation didn't improve.

The team's three new partners are:
- Investment Cooperation International Fund, www.icifund.org
- The State Fund of Development of North-West Russian Federation, www.gosfond.org
- National Institute of Aviation Technologies, www.niat.ru