The Welsh Grand Prix Blog

It's motorsport, isn't it?

Lopez and Bernie to buy Saab?

leave a comment »

Genii Capital, owners of the Renault F1 Team, are launching a last ditch to buy the remains of Saab Automotive, which is set to be closed down if no buyer can be found. Apparently their partner in this bid is a certain Mr Bernard Ecclestone. Although it is too early to say at this stage whether this will come off or what the intentions are, it doesn’t take a genius to see which way this could head…

Saab have never been involved in F1, with most of their motor racing heritage focusing on rallying where they were very succesful until the 1970s, winning the RAC Rally 5 times. The company was set to be taken over until recently by supercar manufacturer Koenigsegg, but the deal fell apart. A further bid has since been launched by Dutch supercar manufacturer (and former F1 participant) Spyker, but it is unlikely to go through. The deadline for bids to buy the company was set at 22:00 GMT tonight by owners GM but it is unclear whether Genii’s bid to save Saab has been accepted

Advertisements

Written by James Bennett

January 7, 2010 at 23:51

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: