After declining to buy directly into Formula One itself, Canadian billionaire Lawrence Stroll has instead decided to purchase the Swiss Sauber Formula One team. Stroll is reported to be negotiating with the current owner, Peter Sauber. Stroll is a fashion industry tycoon, having made hundreds of millions after the 2011 IPO of the popular Michael Kors brand.
The Ferrari-powered Sauber is one of only two teams [Caterham being the other] which has yet to score a single point in the 2014 Formula One racing season and has Adrian Sutil and Esteban Gutierrez as its drivers.