Indian group makes bid for BMW-Sauber
Citing sources, the Times of India newspaper said "Indian investors have made an application" to buy the Swiss outfit, whose majority owner BMW is pulling out of the sport at the end of the season.
The newspaper said team founder Peter Sauber's offer of 45m euros was earlier turned down by BMW, which would accept about 65m for the team so long as the buyer can also guarantee a three-year spend in the range of 100m.
It is believed the Indian's consortium offer is around the 50m mark.
The report said the Indian deal involved the Swiss former Toro Rosso and Sauber test driver Neel Jani, whose father is Indian.
Jani signed up with an Indian sports management company this week, and in a statement said he is "committed to reaching the pinnacle of motor sport and when I do so, it would make me even more proud to know I have the support of India.
"My father is Indian and my mother Swiss, so although I've been brought up in Switzerland, my father has always insisted we stay connected to our Indian roots," he added.
Meanwhile, it is rumored that BMW motor sport director Mario Theissen is disgruntled with his current employer and keen to stay with the Hinwil based team in its new guise.
The German would not comment.