In 2018, Sauber used the Sauber C37, which was driven by Marcus Ericsson and Charles Leclerc along with Antonio Giovinazzi being a test driver. Kaltenborn later left the team on 21 June 2017, while Frédéric Vasseur was announced on 12 July as the new team principal.
On 20 July 2016, Sauber announced they were being bought by Longbow Finance S.A., but still went under the name of "Sauber", while Peter Sauber announced his retirement, putting Pascal Picci in charge of the team. Kaltenborn was team principal after Sauber began to step back from daily management of the team. Peter Sauber owned a 66.6% stake in the team, with 33.4% belonging to former CEO Monisha Kaltenborn. The team ran as "BMW Sauber" in 2010 (using Ferrari engines) for the TV money, before reverting back to "Sauber" in 2011. After 2009, BMW decided to end its involvement in the sport, and sold the team back to Peter Sauber. Founded in 1970 by Peter Sauber, the team entered F1 in 1993, and experienced a moderate amount of success (but no wins) before being sold to BMW after the 2005 season and being renamed BMW Sauber for 2006, winning a race in 2008. The Sauber F1 Team is a Swiss Formula One team.
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