The "F" in F1 could stand for "First Aid" now.
In a surprise turn of events, Formula One tycoon Bernie Ecclestone and partner Genii Capital emerged as a rival to Dutch super-car maker Spyker Cars NV in making last-ditch efforts to buy General Motors Co.s Saab unit.
Ecclestone mentioned in a phone interview that Saab is a good brand that has probably been neglected by the current owners. He has declined to disclose any financial details.
Genii Capital stated that it will aggressively work towards a successful closing of the transaction with all the relevant stakeholders of the company within the short timeframe for finalizing its offer.
Saab is among four brands, along with Pontiac, Saturn and Hummer, being unloaded as GM focuses on Chevrolet, Buick, GMC and Cadillac in the U.S. after its July 10 bankruptcy exit.
If the sales of Saab to F1 materialise, perhaps we may see Saabs serving as safety vehicles for the 2010 F1 in Singapore. That will be a huge publicity for Saab and I am sure folks at Trans Eurokars would be looking forward to that day!