When Dietrich Mateschitz regretted selling 63% shares in Sauber after team signed rookie Kimi Raikkonen

Red Bull ended their partnership with Sauber after the team signed Kimi Raikkonen instead of Enrique Bernoldi as the second driver.

In 2001, Peter Sauber signed a 21-year-old Finnish rookie named Kimi Raikkonen. Kimi had made a name by winning the Formula Renault UK Championship. But Kimi was refused a seat in the 2001 F1 Grid.

FIA President Max Mosley was reluctant to grant an F1 Super Licence to an inexperienced Raikkonen who had raced just 23 races until then. But Sauber made a personal promise to Mosley, allowing the Finn in the grid.

Kimi had to perform from the first race in or he risked revoking his license. But in the gamble, Sauber lost a valuable relationship with the Austrian energy drinks giant, Red Bull.

In 1995, Red Bull purchased 63% of Sauber F1 teams’ stake. Red Bull founder Dietrich Mateschitz held the shares but the decision-making authority lay in the hands of Peter Sauber who owned the remaining 33% shares.

 

Mateschitz wished the team to be a pathway for promoting young drivers in F1 under the ‘Red Bull’ brand. But after Sauber signed Kimi, the Austrian forced an exit from the Swiss team.

Also Read: How Kimi Raikkonen’s manager plotted Michael Schumacher’s exit from Ferrari

Why Red Bull did not want Sauber to sign Kimi Raikkonen?

Peter Sauber was keen on signing Kimi Raikkonen to drive alongside Nick Heidfeld. But Red Bull wanted to promote Enrique Bernoldi.

Bernoldi had links with the Red Bull Junior Team and had tested for Sauber in the winter break. But Kimi impressed Peter Sauber who was adamant about signing the youngster.

As a result, Dietrich Mateschitz decided to pull out of their 7-year-long relationship with the team. Sauber would buy the Austrian’s shares valued at $42.40 million.

Peter Sauber confirmed, “I have bought back the shares of Sauber Holding AG from Red Bull GMBH. Credit Suisse will take over these shares to place them with different investors.”

Red Bull would leave Sauber. But the learning for Mateschitz was that to be an F1 powerhouse and to make a legacy, you needed full control of your team.

Also Read: When McLaren boss paid Fernando Alonso $16 Million to get rid of Kimi Raikkonen

The Aftermath of Kimi Raikkonen deal

Kimi Raikkonen would make an immediate impact in F1 and score 9 points in his debut season. He would later move to McLaren in a $15 Million move and challenge Michael Schumacher for the title in 2003.

He would win the 2007 Championship driving for Ferrari. And Peter Sauber himself revealed that the Red Bull owner claims Peter Sauber did the right thing by signing the Finn.

Enrique Bernoldi would sign with Arrows and drive alongside Jos Verstappen. He would be phased out and would compete in different competitions like IndyCar.

Dietrich Mateschitz would go on to buy the Jaguar Racing team in 2004 and enter the F1 grid with the Red Bull racing team. After the failed partnership with Sauber, Mateschitz would buy 100% of the team.

The Red Bull racing team would promote many young drivers from their academy who would prove to be Grand Prix winners. The team would win 6 Drivers championship titles and 5 Constructors titles until the 2022 season.

Also Read: How McLaren boss paid $14 Million to rescue Kimi Raikkonen from Sauber F1 team