International group of investors set to buy Sauber

Sauber is reportedly on the cusp of being sold. We reported earlier that amid a troubled campaign for the financially struggling Swiss team, the 300 staff at Hinwil have now been paid for May and June. "We are in the process of a comprehensive solution," confirmed team boss and co-owner Monisha Kaltenborn, speaking to Blick newspaper.

Team driver Felipe Nasr, who was believed to be losing patience with Sauber and could be looking to take his major backer Banco do Brasil elsewhere, welcomed the news. "I'm still fully committed to the team I'm pretty sure," he said in Austria. "The situation seems to have got better from what I hear. Getting all the salaries paid gives a boost to everyone back at the factory, at the track. I'm sure we can soon start updating the car," Nasr added.

It is believed that, earlier this week, Sauber staff were told at the team's Swiss base that their newly-paid salaries are part of a rescue plan for the team. Germany's Auto Motor und Sport claims the plan comes in the form of an international group of investors who will buy a majority stake in Sauber, writing off debts and committing for the future. The report said the new owners intend to keep Sauber's existing management throughout a transitional phase. (GMM)