The Automaker company, Alfa Romeo has announced that it has extended its partnership with Swiss-based Formula 1 team, Sauber for the 2023 season.
Sauber is owned and run under the Alfa Romeo team which is owned by Swedish billionaire Finn Rausing’ Islero Investments.
The sports car firm, which is an integral part of the Fiat Chrysler Automobiles (FCA) group, will once again deliver strategic, engineering, and technological guidance to Sauber. According to the deal struck ahead of the 2018 season, the Formula 1 car will endure the Alfa Romeo logo and will be powered by Ferrari, which is also owned by FCA.
Jean-Philippe Imparato, Chief Executive of Alfa Romeo, said, “I have signed the renewal for 2023 this morning. Every year in July we assess the situation. If in the future we realise we are not interested any more in Formula 1 or we don’t have returns on our investments, we’ll see what to do, but everything will be done in an orderly way.
“For the moment [the Sauber partnership] is a fantastic, common vision. If one day something else occurs, it will not be a problem. We will develop ourselves in another way, in another world, always based in motorsport, for Alfa Romeo.”
Moreover, the organization is currently linked to Volkswagen-owned Audi, with sources suggesting that the German firm is seeking a 75% stake in the team.