Team Sauber has announced that it will not be taking part in next week's post-British GP two-day test, citing "cost effective" reasons, and a new aero package which won't be introduced until later in the season.

The team had also missed the in-season Barcelona test which took place mid-May at a time when it was battling its finances, with staff awaiting payment of its salaries.

It was rumored over the Austrian Grand Prix weekend that the Swiss outfit had found a new investor although  details and specifics regarding the identity of the potential backer have yet to be announced.

"For any details you have to ask Monisha," team manager Beat Zehnder told the media in Austria.

"Obviously there is a change in atmosphere because now everyone believes again that there is a future.

"The crucial thing was not to give up and I think we can be very proud of our team here on the track and at home that kept on pushing in our very limited areas.

"There was always light at the end of the tunnel - but as you know Switzerland has just opened the longest railway tunnel in the world - the light was always there, the tunnel was just massively long. The tunnel is getting shorter now."

Hopefully, Sauber will announce in teh coming days that its future in Formula 1 has been secured.

Austrian Grand Prix - Quotes of the week

Austrian Grand Prix - F1i Driver ratings

Breakfast with ... Alexander Rossi

F1i Classic: Penske's emotional Austrian GP win

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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.

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