Sauber not yet looking to sell team

Peter Sauber on Friday said he is not currently looking to share his burden of formula one team ownership.

The 66-year-old Swiss stepped in to rescue the Swiss team he founded, after BMW pulled out of the sport and the Qadbak takeover failed.

"Our budget is now smaller by 40 per cent and we had to reduce the number of employees from 390 to 260," he said in an interview with the German news agency DPA.

Sauber is currently the sole owner of the Hinwil based outfit, despite happily entering retirement when BMW took over at the end of 2005.

"I am not looking for a buyer at the moment," he insisted. "We are looking for stability, performance and sponsors for 2011."