Sauber have repeatedly paid its staff late saying everytime it a one off so why have they been paid late for the third month in a row?
Sauber staff paid late for third month
Sauber has failed for third month in a row according to the magazine Autosport. The Swiss team says that cashflow problems meant February and March salaries were paid around a week late.
The situation has left the team once again looking for a solution will be found to ensure all employees are paid. The team is pushing ahead with plans to compete in the Spanish Grand Prix, where it will run Ferrari’s new spec engines. But will not take part in testing the following week.
The team principal Monisha Kaltenborn has been pushing hard to find new sponsors to boost their budget. Also in the last two months the team has lost there Technical director Mark Smith and head of track engineer Tim Malyon.
In Sochi team manager Beat Zehnder told the magazine “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.”
Part of the teams problem has be the collapse in the Swiss franc against the US Dollar.
Force India owner Vijay Mallya is facing serious allegations about the collapse of his airline. But is it having any impact on his F1 Team?
Mallyas issues not impacting Force India
Force India’s Chief Operating Officer Otmar Szafnauer, says that the current financial troubles of owner Vijay Mallya are not impacting on the teams operations. Today Mallya resigned from his seat in the Indian parliament ahead of a report saying he should be expelled from the house.
Mallya says he is in “forced exile” in the UK as he faces increasing pressure from banks in India to repay hundreds of millions of pounds worth of debt related to the defunct Kingfisher Airlines.
Mallyas told the Financial Times “We have always been in dialogue with banks saying: ‘We wish to settle’. But we wish to settle at a reasonable number that we can afford and banks can justify on the basis of settlements done before.
Szafnauer insist the issues facing Mallya will not have a big impact on the way the team is run.
“Well, we’re all used to seeing Vijay at the circuits, but he has many business interests and at the factory he used to come at Christmas time and also around Silverstone, so from that regard, from an operational standpoint I don’t think it has a big impact on the team,” he told ESPN
“I know he’s working hard with the Indian government to resolve his issues and hopefully soon we’ll see back at the races.”
Haas has had a fantastic start to life as a F1 team but could it be damaging for the sport as a whole?
Haas’s achievement damaging but fantastic – Symonds
Pat Symonds believes that Haas brilliant start to their debut season is damaging for Formula One but has said the achievements have been “fantastic”.
The American team has benefited from a close relationship with Ferrari which means they have used the wind tunnel and brought all ‘non-listed’ parts from the Italian team and have generating data through using there wind tunnel. But Symonds says they have perfect use of the F1 rules and admires their achievements on a much smaller budget.
He told Sky Sports “I think it’s fantastic,” Symonds told Sky Sports F1’s Ted Kravitz. “People might know that I do feel that the way Haas have gone about things – which of course is totally legal. it’s what the rules allow you to do – I think it does erode the status of being a constructor a little bit.
But good luck to them, that’s what the rules are. They’ve used them well. They’ve really surprised me and I have a lot of admiration for them.” Haas have scored points in two out of the three races which Symonds said is based on race strategy.
Michael Schumacher and Valentinio Rossi are two of the most successful men in motorsport with seven times in the top class of their sports can Lewis Hamilton achieve the same feat?
Luxury of equalling Schumacher and Rossi
Lewis Hamilton says he hopes he has the luxury of Seven times Moto GP class champion Valentinio Rossi and Michael Schumacher admits he has put a time frame on how long he plans to stick around in Formula 1.
Rossi is one of the most experienced rider in the sport and now towards the end of his career hasn’t shown a dip in for after winning the Spanish Grand Prix at the weekend. Hamilton has talked about how he wants to find himself in a similarly peak position for years to come.
Speaking ahead of the race Hamilton told Motorsport.com “Valentino is towards one of the older riders now, but he still has the ability to be at the top. He still has the ability to do so, and so I hope that I am in the similar position towards the end of my career.”
Hamilton says he thinks he will be in the sport until the early part of the 2020’s. He was asked if he ever thinks about retirement, he said: “I do. Generally when I think about it, I have this three-year contract. I am hoping that I have another three or four years after that.”
He appeared to hint that he wouldn’t be inclined to quit after winning a title and thinks “ it is a very hard thing to do and I am yet to know that I have the maturity and strength to walk away from something that I loved since five years old. Only time will tell.”
That’s all from this edition of Reporters