Sauber was never close to bankruptcy claims Kaltenborn 2 August, 2013 Monisha Kaltenborn with Peter Sauber Team principal Monisha Kaltenborn has denied that Sauber was ever close to being bankrupt. Having admitted that it was having trouble paying increasingly impatient suppliers, the Swiss team recently announced new partnerships with Russian entities that many in the media described as a ‘rescue deal’. However, team boss Kaltenborn insisted: “We were never close to bankruptcy. “We have been through difficult times in the past, and know how to survive. “We also had other options, but we realised that this was the best one for the team to have a long-term future,” she is quoted by tio.ch. (GMM) Subbed by AJN. Reports on GrandPrix247.com by: staff & contributors, Reuters syndication, GMM service, Formula 1 teams, sponsors & organisations.