Sauber financial difficulties ‘not a secret’

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Sauber team manager Beat Zehnder says that the financial difficulties currently facing the Swiss outfit are “not a secret”, but that it is now in a more comfortable position.

Sauber has faced a great deal of uncertainty in the past three years, but the ship appeared to have been steadied in 2015 after the arrival of drivers Marcus Ericsson and Felipe Nasr, both of whom brought sizeable backing.

However, the team was late in paying its staff earlier this year, and is currently running short on spare parts according to Autosport.

Speaking in Friday’s FIA press conference ahead of the Russian Grand Prix, Zehnder said that Sauber was already in a more comfortable situation than earlier in the year, but that regular income did not got far enough.

“We’ve been in a more comfortable situation already,” Zehnder said.

“We have financial difficulties, it’s not a secret, but I think the good thing is we are still around. We’re working hard to solve all the problems but it’s not easy.

“An annual budget this year is just a massive one and to just cover it by sponsors and the income from Bernie [Ecclestone] is just not sufficient at the moment.”

Zender also said that the loss in value of the Swiss franc in recent years has hit Sauber hard.

“In 2007, one dollar was 1.5 Swiss francs. Now we have parity. So what we had income in dollars is now worth 50 per cent less,” Zender said.

“Switzerland doesn’t make it really easy. The other thing is that obviously F1 personnel, technical, mechanics, you kind of have a pool in the UK, we don’t have it in Switzerland.

“So for motorsport, it’s maybe not the best place to be although we have wonderful living!”