Toto Wolff’s shocking move on Alfa Romeo ownership

As the 2021 season draws to a close, Mercedes team manager Toto Wolff revealed that it would be foolish for Sauber to sell his Alfa Romeo team from Formula 1 in the near future.

Although more recognizable thanks to its main sponsors, Alfa Romeo, the Backmarker team is owned by a Switzerland-based investment firm called Longbow Finance. As Formula 1 reporter Michael Schmidt reports, Longbow Finance is in talks with former F1 driver and US racing team owner Michael Andretti, who is looking to buy the team.

By Michelle Foster from Planet F1:

“There is an offer on the table,” Schmidt said in his latest Auto Motor und Sport podcast.

“The question now is whether the owner of the Sauber Racing team is happy or not. It is a bit hard to judge because they do not need the money urgently and are big fans of racing.”

However, Wolff believes the 2022 season could bring many new surprises amid regulatory changes, despite the team’s poor showing in the V6-turbo hybrid era. The sport has gained more and more new fans since the debut of Netflix’s Drive to Survive series – Formula 1 hasn’t looked so well globally for several years.

“Toto Wolff told me: Anyone who sells their F1 team now must be crazy. The team will be worth a lot in one year, and even more in two years. F1 is booming.”

With Valtteri Bottas entering the Alfa Romeo garage next season, it will be interesting to see what Longbow Finance does in the future. Will they take Wolfe’s advice or will they sell the team to Andretti?

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About the Author: Rusty Kemp

Tv ninja. Lifelong analyst. Award-winning music evangelist. Professional beer buff. Incurable zombie specialist.

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