Credit Suisse Ends Bmw F1 Sponsorship
Banking group Credit Suisse has ended its sponsorship of the BMW Sauber F1 team, the latest impact of the economic recession on motorsport.
Credit Suisse’s sponsorship contract ended in 2008 and the banking group has announced that it will not be renewed with the firm preferring to now ‘focus on regional sporting and cultural activities’.
A BMW Sauber spokesman stated that the withdrawal would have ‘no impact’ on the team’s budget for 2009.
‘It will have absolutely no influence on that. The budget for 2009 is fixed, we are happy with it, and we move on as always.
‘The search for new sponsors is ongoing, as it always is, but it is not something we can set a deadline on. We are having some interesting discussions with various parties and we will see how they develop.’
Credit Suisse was the main sponsor of Switzerland’s privately owned Sauber race team from 2001 to 2005 and stayed on when the outfit was taken over by BMW at the start of 2005.
Last season was the team’s best so far, with BMW Sauber celebrating its first win at the Canadian Grand Prix and finishing third in the constructors’ championship.
