Sauber 'never close to bankruptcy' - Kaltenborn

Aug.2 (GMM) Monisha Kaltenborn has denied Sauber was ever close to "bankruptcy".

Having admitted 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'.

But 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.