JANUARY 10, 2002

Sauber admits he has bought out Mateschitz

PETER SAUBER says that he has bought Red Bull's share of the Sauber F1 team but says that he is planning to sell it on to the team's sponsor Credit Suisse. The Swiss banking company is expected to sell the shares to individual investors and make a profit on the deal.

The exact shareholdings which will be changing hands are not yet clear as Sauber may choose to hold on to more than the 36.75% of the shares which he currently owns (although these include 100% of the voting shares in the team). By selling on the shares to Credit Suisse, Sauber will be opening the way for what is, in effect, a small-scale flotation of his team. If this happens he will be the first F1 operation to have made such a move.

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