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Sauber F1 Team announces change in ownership, securing future

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Sauber has announced a change in ownership that secures the future of its Formula 1 operation and offers scope for growth in the future.

Sauber has operated as an independent team following the withdrawal of BMW at the end of 2009, but has struggled financially in recent years.

Earlier this year, the team failed to pay its staff on time, leading to questions about its long-term future as it continued to struggle at the back of the grid.

Team principal and shareholder Monisha Kaltenborn hinted that progress had been made in securing the future of the team, with a change in ownership being announced on Wednesday.

“The Sauber Group is pleased to announce the change of its ownership. Following the signing of the acquisition agreement with the current shareholders, Longbow Finance S.A. will fully acquire Sauber Holding AG which is the ultimate holding company of the Sauber Group,” a statement reads.

“It is Longbow Finance S.A.’s clear intention to stabilise the group and create the basis for a competitive and successful future. This transaction also secures the continuation of the brand Sauber in Formula One and will open opportunities to further grow the engineering activities of the group. There will be no changes to either the company or the team name.

“Peter Sauber will retire from all functions, being succeeded by Pascal Picci as Chairman of Sauber Holding A.G. Monisha Kaltenborn will remain as a member of the Board of Directors and continue to lead the company in her functions as CEO and Team Principal.”

“We are very pleased that by reaching an agreement with Longbow Finance S.A., we can secure the future of Sauber at the pinnacle of motorsport,” Kaltenborn said.

“We are convinced that Longbow Finance S.A. is the perfect partner to again make the team competitive and successful in Formula 1. At the same time the new structure will allow us to finally further expand our third party business in which we commercialise our know-how.

“This solution is in the best interest of our employees, partners, loyal suppliers, the base in Hinwil and for the Swiss motorsport.

“We are very grateful that Longbow Finance S.A. believes in the competences, efficiency and capabilities of Sauber Group, and we look forward to a new exciting future.”

Team founder Peter Sauber added: “Monisha Kaltenborn and I yesterday signed an agreement which secures the future of the Formula 1 Team and the Sauber Group.

“I am very happy that my courageous investment to buy the team back, which I made six years ago, with the intention to secure the base in Hinwil and the place in Formula 1 has proved to be correct.”

Todd LeDuc advances two positions in Monster Jam Power Rankings

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Neil Elliott held onto the top spot in the Monster Jam Power Rankings, but he has a new driver sniffing his exhaust as Todd Leduc advanced two positions to second this week.

The Stadium Series Green continues to hold the advantage in the Power Rankings with Elliott topping the chart, Morgan Kane in fourth, and Ryan Anderson eighth, but there is an equitable distribution among the other series throughout the field.

Notably, Leduc and his Monster Energy truck in the Stadium Series Red closed the gap with a 38-point overall victory at US Bank Stadium in Minneapolis, MN. Leduc achieved his win through consistency, pocketing the overall without winning a single individual event. Leduc’s best session was a second-place finish to Mike Vaters II in Overkill Evolution by .001 points.

Meanwhile on the West Coast, Elliott rambled on. Elliott won his sixth skills challenge in seven contests so far. That contributed to his 35 points for the event at PETCO Park in San Diego and allowed him to hold onto the No. 1 slot in the Monster Jam Power Rankings.

Colton Eichelberger also held station. Third last week, he entered the Rocket Mortgage Fieldhouse on a mission in the Triple Threat Series Central. He topped the event points in all four events with timed race wins in each session, ATV race wins in three of the four, three wins in the speedster obstacle course, two freestyle wins and one win in the donut competitions.

MORE: Ryan Anderson and the anatomy of a Monster Jam freestyle run

Morgan Kane and Grave Digger had a rough night. He was ousted from the racing event in Round 2 by Max-D and Elliott. He failed to win either of the other two competitions of the night and ended with 29 points, which was a distant third to Ryan Anderson’s Son-Uva Digger (37) and Max-D (35).

Brandon Vinson moved up to the fifth position with three wins in the Triple Threat Series West. During the weekend he earned seven session wins, including a sweep of the speedster obstacle course and two victories in the two-wheel skills challenge.

Tom Meents debuted on the Monster Jam Power Rankings in 10th by winning the overall in back to back nights of the Stadium Series Yellow. The Saturday show can be seen Feb. 22 at 11:30 p.m. on NBCSN (click here for streaming). The highlight of Meents’ weekend were race wins on Saturday and Sunday, defeating Coty Saucier in a Monster Energy truck on Night 1 and Eric Swanson in Obsessed on Night 2.

Power Rankings

1. Neil Elliott–same
2. Todd LeDuc–up 2
3. Colton Eichelberger-same
4. Morgan Kane–down 2
5. Brandon Vinson–up 1
6. Tyler Menninga–up 1
7. Coty Saucier–down 2
8. Ryan Anderson–same
9. Linsey Read–up 1
10. Tom Meents-new for 2020

Upcoming TV Schedule (All showings on Eastern time on NBCSN)

Oakland: February 22 (Saturday); 11:30 p.m.
Miami: March 1 (Sunday); 12 a.m.
Jacksonville: March 9 (Monday); 6 p.m.
Detroit: March 21 (Saturday); 11 p.m.
Las Vegas: March 28 (Saturday); 7 p.m.
Santa Clara: April 11 (Saturday); 7 p.m.
Philadelphia: April 17 (Friday); 2:30 p.m.
Denver: April 25 (Saturday); 6:30 p.m.
Monster Jam World Finals Racing: May 9 (Saturday); 5 p.m.
Monster Jam World Finals: May 19 (Tuesday); 4 p.m.
Monster Jam World Freestyle: May 20 (Wednesday); 12 a.m.
Monster Jam World Finals: June 20 (Saturday); 2:30 p.m.