Exclusive: Canadian billionaire Lawrence Stroll to buy Sauber

Lawrence Stroll will soon take over the Swiss Formula One team known as Sauber.

Exclusive: Canadian billionaire Lawrence Stroll to buy Sauber
Sauber F1 Team logo
Esteban Gutierrez (MEX), Sauber F1 Team and Adrian Sutil (GER), Sauber F1 Team 30
Lawrence Stroll, (Right) Fashion Mogul
Esteban Gutierrez, Sauber C33
Sergey Sirotkin, test driver, Sauber F1 Team
Giedo van der Garde, Sauber C33 Reserve Driver

Motorsport.com has learned at Monza that Canadian billionaire Lawrence Stroll is looking to purchase the Sauber F1 Team.

Who is Lawrence Stroll?

Stroll owns the Circuit Mont-Tremblant in Canada, a Ferrari dealership in Québec, and an impressive collection of cars that include two of the most expensive in the world (Ferrari P4 and a Ferrari 275 GTB/4).

The fashion industry tycoon is also in the process of selling off his shares in Michael Kors, through his private equity firm Sportswear Holdings. He held a 5.7% stake in the company and with this decision, he will be left with plenty of money leftover to buy into a Formula One team.

On Forbes, the 55-year-old is ranked as the 816th richest man in the world, worth $2.3 billion dollars. Bernie Ecclestone was in talks with Stroll to buy into CVC Capital, which is the private equity firm that owns Formula One. That deal did not go through. However, it seems as though this deal with Sauber is as good as done.

The 'Russian rescue deal'

It's been known for some time now that the team is financially unstable. Last year, what has become known as the 'Russian rescue deal' saw a trio of Russian companies form a partnership with the team. This new alliance quickly disintegrated as the Ukranian crisis escalated though, and all discussions which included putting Sergey Sirotkin in an F1 car came to a screeching halt.

Sauber has struggled in 2014 thus far, failing to score any points between drivers Adrian Sutil and Esteban Gutierrez.

shares
comments
Post-race rumours rock Monza paddock

Previous article

Post-race rumours rock Monza paddock

Next article

Monza: Felipe Massa achieved his first podium for Williams

Monza: Felipe Massa achieved his first podium for Williams
Load comments
The signs that point to F1's rude health Prime

The signs that point to F1's rude health

OPINION: Formula 1's calendar might still be facing disruption as the pandemic affects travel but, says Mark Gallagher, the business itself is fundamentally strong thanks to the epic rivalry taking place on track and the consistent arrival of new sponsors.

The unexpected benefit of F1's sprint race repeat Prime

The unexpected benefit of F1's sprint race repeat

OPINION: Formula 1's sprint race trial at Silverstone drew mixed feedback on Saturday, but there remained the true test of how it would impact Sunday's Grand Prix. While fans were busy marvelling at Fernando Alonso's progress, a key lesson was being learned that would directly contribute to the dramatic lap-one clash at Copse the following day

Formula 1
Jul 22, 2021
The off-track considerations that led to Hamilton/Verstappen F1 shunt Prime

The off-track considerations that led to Hamilton/Verstappen F1 shunt

OPINION: Formula 1’s 2021 title fight turned ugly last weekend when Max Verstappen and Lewis Hamilton collided at the start of the British Grand Prix. Verstappen thankfully walked away unharmed, but this had been a clash long-since coming.

Formula 1
Jul 21, 2021
British Grand Prix Driver Ratings Prime

British Grand Prix Driver Ratings

The 2021 British Grand Prix will live long in the memory for the dramatic clash between Formula 1's two title protagonists, which opened the door for other drivers to capitalise. One did so in spectacular fashion, while others fluffed their lines

Formula 1
Jul 19, 2021
How Leclerc almost defied Hamilton after Silverstone clash Prime

How Leclerc almost defied Hamilton after Silverstone clash

A poor start for Valtteri Bottas and the lap one clash between Formula 1's 2021 title protagonists gave Charles Leclerc a surprise lead in the British Grand Prix that he almost held to the end. Here's how the Ferrari driver came close to a famous victory, ultimately denied by a recovering Lewis Hamilton three laps from home

Formula 1
Jul 19, 2021
The signs that suggest Mercedes can win at Silverstone Prime

The signs that suggest Mercedes can win at Silverstone

Red Bull and Max Verstappen scored an early blow against Lewis Hamilton and Mercedes at Silverstone, with sprint qualifying race victory. But that doesn’t mean Sunday’s grand prix is a foregone conclusion. Although Verstappen starts as the favourite, here’s why Mercedes still holds hope of winning

Formula 1
Jul 18, 2021
Uncovering Silverstone's engineering secrets for F1 success Prime

Uncovering Silverstone's engineering secrets for F1 success

Formula 1 returns to Silverstone this weekend, but despite its familiarity to all the teams it is no picnic. Here are five of the key points for engineers to consider prior to the British Grand Prix.

Formula 1
Jul 16, 2021
The 'special relationship' Ferrari will hope to exploit at Silverstone Prime

The 'special relationship' Ferrari will hope to exploit at Silverstone

Ferrari might have snubbed the very first world championship race on British soil but the Scuderia and the UK went on to enjoy some deep connections. As BEN EDWARDS explains, theirs is a shared history that is waiting for its next chapter to be written...

Formula 1
Jul 15, 2021