Sauber fans can breathe a sigh of relief after it was announced that the team have signed several major partnerships aimed at securing its long-term F1 future.
Just weeks after the team confirmed that it is struggling financially with some claiming they might not see the end of the current season, Sauber announced it had signed deals with three Russian companies.
Team owner Peter Sauber had revealed over the weekend that they were in negotiations about a deal that will see them remain in the sport for many years and the new partnership was confirmed on Monday.
Russian entities Investment Corporation International Fund, the State Fund of Development of Northwest Russian Federation and the International Institute of Aviation Technologies have all come on board.
"We are pleased to announce a partnership between the Investment Corporation International Fund, the State Fund of Development of North-West Russian Federation and the National Institute of Aviation Technologies with Sauber Motorsport AG, incorporating the promotion of the sport Formula 1 in Russia and jointly developing high-technological solutions," a statement from Sauber said.
"With the National Institute of Aviation Technologies, one of the leading scientific research institutions in Russia, the Sauber F1 team will benefit from the advanced know-how of the front-end Russian scientists and engineers.
"The objective of the partnership is to open up new perspectives and revenue streams by commercialising jointly developed technologies."