Mercedes team principal Toto Wolff has said that he believes Sauber would be “crazy” to sell their Formula 1 team now, given that the sport is “booming.”
It has been reported that Michael Andretti has expressed interest in purchasing the Switzerland-based team, which is backed by Alfa Romeo.
Specifically, according to reports, Andretti has tabled an offer to purchase an 80 percent stake in the team.
Motorsport journalist Michael Schmidt has quoted Wolff as saying that Sauber “must be crazy” if they were to sell their Formula 1 team now.
“There is an offer on the table,” Schmidt said in his latest podcast.
“The question now is whether the owner of the Sauber racing team is happy with it or not. It is a bit difficult to judge as they do not need the money urgently, and are huge racing fans.
“Toto Wolff told me: whoever sells their F1 team now, must be crazy.
“The team will be worth much more in one year, and even more in two years. F1 is booming,” he added.
Continuing, he noted that “many countries are lining up to host a grand prix” and said teams like Alfa Romeo could benefit a lot from the regulation changes and recently introduced budget cap.
“A regulation change is coming up which could give equal opportunities, and the budget cap… nobody knows who will win,” the journalist said.
“This generates more interest, which means more money and that means the team’s worth increases.
“Toto Wolff says he would definitely not sell now,” he concluded.
Alfa Romeo are currently ninth in the Constructors’ Standings on seven points, 16 points adrift of eighth-placed Williams.