Financially troubled Formula One team Sauber on Monday announced a new partnership with Russian investors, in part to help promote the sport ahead of the country's inaugural grand prix at Sochi next year.
The Swiss team said in a statement it had signed a deal with the Investment Cooperation International Fund, the State Fund of Development of North-West Russian Federation and the National Institute of Aviation Technologies.
The tie-up was designed to develop new technology for use both on the track and commercially, and to help "the promotion of the inaugural Formula 1 Grand Prix in Sochi in 2014 and attracting the talented young Russian generation towards motorsport".
In particular, it would set up a development programme for Russian driver Sergey Sirotkin "to prepare him as a racing driver for the team in 2014".
Sirotkin, 17, currently drives in Formula Renault 3.5 for the ISR team.
"This extensive co-operation will showcase Russian innovation at the pinnacle of motorsport," Sauber said on its website sauberf1team.com.
"At the same time, the Sauber F1 Team will have a solid foundation to increase its competitiveness on a long-term basis.
{{/usCountry}}"At the same time, the Sauber F1 Team will have a solid foundation to increase its competitiveness on a long-term basis.
{{/usCountry}}Sauber, lying at the foot of the constructors' championship standings with six points, was founded more than 20 years ago but revealed earlier this month it was in financial trouble.