Categories: F1 News, Reports and Race ResultsFormula 1

Saxo Bank to Magnussen's rescue?

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Kevin Magnussen is a free agent now following his split off from former employer McLaren.

The British team rather unceremoniously dumped the Danish driver via email on his birthday, although the news did not come as a surprise for Magnussen.

The 23-year-old, who was a full-fledged McLaren driver in 2014, has been investigating his options lately and rumors have linked him with the Lotus seat vacated by Romain Grosjean for Haas.

Lotus itself is still awaiting final confirmation of its buy-out by Renault following the latter's signing of a letter of intent. Should the deal effectively materialize many believe Renault would favour a French driver to partner Pastor Maldonado, although viable choices in this respect appear limited.

Magnussen deserves F1 career - Dennis

Danish online bank Saxo Bank recently announced it would cease sponsorship of its Pro Tour cycling team ahead of 2016, a decision which has fueled speculation that the financial institution could be set to redirect its resources more heavily towards Formula 1.

If so, backing fellow Dane Kevin Magnussen at Lotus, a team Saxo Bank is already a partner of, would appear an obvious choice although the bank itself, through the voice of its departing chief Lars Christensen, has refused to comment on the matter, admitting only to have held superficial talks with the Danish driver's management.

"We are not going to comment before we are ready to announce anything," Larsen told Danish newpaper BT.

"We have not completed our negotiations for next year, so I cannot say anything at this stage."

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.