Categories: F1 News, Reports and Race ResultsSauber

Sauber justifies cash advance from FOM

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Sauber asked Bernie Ecclestone for an advance payment on monies owed to it by FOM to maintain liquidity needs and to prevent rival Force India from gaining a competitive advantage from its own advance cash request.

Force India's solicitation of payment which was lodged with FOM in October was apparently accepted, and this prompted Sauber and Manor to file similar requests.

"We saw some of our competitors had done that and that can give you a direct competitive advantage," Sauber boss Monisha Kaltenborn told Autosport.

"So we felt that when our competitors had done it, it would definitely make our life easier, so that's why we did it. If you can make your liquidity easier, of course it helps the company. We are not in a position where you can say it doesn't matter at all."

Money is distributed by Ecclestone to teams on a monthly basis from February to November which leaves the outfits with a cash flow gap of two months at a very cost-effective and peak production period.

Advance payments demand unanimous consent from all F1 teams before FOM can process them, but Kaltenborn does not foresee any troubles on this level.

"I don't see why anybody would be against it considering other teams have got it," she concluded. "It would not be a nice thing among teams if suddenly one team says no for no reason."

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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.