JUNE 17, 2001
Red Bull set to leave Sauber and join Arrows
RED BULL, the energy drink company and current major sponsor of the Sauber team, have held meetings with Morgan Grenfell Private Equity bank over buying a 70 percent stake in the Arrows team, according to a report in the British press.
The report in the British newspaper THE SUNDAY TIMES suggested Morgan Grenfell would like to sell their controlling stake in the Arrows team.
Red Bull, meanwhile, has a reported 62 percent stake in the Swiss Sauber team but have also said they could withdraw that at the end of the season.
Arrows driver Enrique Bernoldi is also sponsored by Red Bull and that link could provide a catalyst for a future deal between the energy drink company and the British Arrows team.
The report went on to say the Morgan Grenfell had denied they wanted to sell out of the Arrows team but quoted Nicky Samengo Turner, a broker working on behalf of Red Bull, who suggested that talks are at an early stage.
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