Sponsor UBS could quit Formula 1 - reports

Published on 01 Feb 2013 14:37
image
UBS, a major sponsor of formula one, could be considering pulling out of the sport. The Swiss based global financial services company entered F1 in 2010, powered by its then chief executive Oswald Grubel, who had also brought the Swiss bank Credit Suisse to the sport and was a board member of the BMW-Sauber team.

But Grubel is no longer in charge. UBS is now headed by Sergio Ermotti, a Swiss banker. Blick newspaper reports that, under Ermotti's new watch, the company has been conducting market research into the wisdom of Grubel's F1 deal. And, citing sources at senior management level, the Swiss daily Tagesanzeiger said the company is indeed considering pulling out of F1. Columnist Francois Bloch wrote: "UBS CEO Sergio Ermotti is not a formula one fan." A UBS spokeswoman said: "We have ongoing, multi-year contracts with formula one. We continually analyse our commitment." (GMM)

Take a look at www.fanfashion.eu for discount F1 merchandise!


Replies (0)




Test sessions
FR Tyre testing - Paul Ricard
Jan 25 2016AU Daniel Ricciardo1:08.713Results
Jan 26 2016DE Sebastian Vettel1:06.750Results
 
ES Winter testing - Circuit de Catalunya
Feb 22 2016
Feb 23 2016
Feb 24 2016
Feb 25 2016
 
ES Winter testing - Circuit de Catalunya
Mar 1 2016
Mar 2 2016
Mar 3 2016
Mar 4 2016
 
ES Testing - Circuit de Catalunya
May 17 2016
May 18 2016
 
GB Testing - Silverstone
Jul 12 2016
Jul 13 2016
 
Give your opinion!
Who was your driver of the day out of the podium finishers?



Track Albert Park
 
Track Albert Park
Location AU Melbourne, Australia
Website Website
 
Team profile
Name CH Sauber
Founding date Jan 1 1970
159 comments on Sauber
0 members have this team as their favourite
Website http://www.sauberf1.com
Location Hinwil
Tweets about Sauber
Formula 1 Calendar
Previous Grand Prix: 29 November 2015
AE Grand Prix of Abu Dhabi Grand Prix of Abu Dhabi
Next Grand Prix: 20 March 2016
AU Grand Prix of Australia Grand Prix of Australia
 
Formula 1 Championship 2016
Driver standings
Team standings