BMW Talks to Potential Buyers for F1 Team

BMW AG continued their search for a buyer of their Hinwil-based operations in recent weeks, as confirmed by a media report in Germany. Although there haven't been many news on the subject in recent days – as the Michael Schumacher topic made the headlines of all major sport publications Europe-wide – it seems the German manufacturer is in advanced talks to finally secure a buyout.

According to Germany's Auto Motor und Sport, there are several “investors” interested in purchasing the team. Although the FIA has already reopened its entry list for 2010 – and now received applications for the vacant spot left by the former BMW Sauber – it is believed the Hinwil-based outfit will have priority in taking back their F1 spot.

Peter Sauber is currently owning 20% of the Swiss team, while the rest remains to be bought by another investor. His outfit is the only one who is yet to sign the new Concorde Agreement, binding the teams to Formula One racing until at least in 2012.

Sauber tried to convince the German manufacturer to give him full control over their F1 operations – Brawn GP/Honda style – but the negotiations failed during the course of last week. While admitting his disappointment over BMW's decision, Sauber insisted he'll do everything possible to keep his team alive in Formula One.

The FIA did not announce when it will make a decision on the final 2010 entry list, as it is believed they are keeping a close watch on how the whole BMW Sauber buyout operation goes. Should the new buyout attempts fail once again, it is possible that Sauber will not be able to retain his team in F1 anymore.