MUNICH, Germany/HETHEL, England — The Formula 1 world has been rocked by news that Lotus will return to the F1 grid in 2010 after being absent from the sport since 1994. Meanwhile, BMW confirmed on Tuesday that it has sold its Formula 1 BMW Sauber racing team to Qadbak Investments, a Swiss-based group representing Middle Eastern interests.
In the announcement, BMW named Lionel Fischer, described as a Swiss national, as Qadbak's representative in the F1 team setup.
BMW's announcement comes at a time of great financial difficulties for car-manufacturer-backed F1 teams. Honda quit Formula 1 at the beginning of 2009, while BMW Sauber announced in July that it was quitting the sport at the end of the season.
BMW's news was tempered by the encouraging announcement from Lotus, which heads back to the F1 grid in 2010 through a partnership between the Malaysian government and a consortium of Malaysian entrepreneurs, according to the official F1 Web site.
The Lotus team has agree to an engine supply deal with Cosworth, while the team's technical director is Mike Gascoyne, a 20-year F1 veteran with the Force India, Toyota, Renault and Jordan F1 teams.
No drivers were named for the Lotus team. That announcement is expected in late October.
Inside Line says: Some seismic shifts in the F1 world. — Anita Lienert, Correspondent
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