BMW to sell F1 team back to Sauber

Peter Sauber is set to make a return to Formula One after reaching a deal with BMW to buy the team back.

The contract is subject to the condition that the team is guaranteed a starting place on the grid next season.

BMW had declared in July that it is quitting F1 after four years in the sport, leaving the team's future uncertain.

With doubts cast on a prior deal with Qadbak Investments Ltd, FIA appeared to be unsure about taking the team back into its fold.

BMW has now scrapped that deal in favour of former owner Sauber, who was in charge for 13 years before he sold the operations to the German manufacturer in 2005.

The 65-year-old had failed in a takeover bid in early August. He had said then that BMW's demands were "far too high".

Toyota's recent withdrawal from Formula One left a 13th slot on the grid for 2010 for the team to make its re-entry.

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