Troubled F1 Team Sauber Finds Russian Sponsors

Formula One team Sauber has eased its financial troubles with new funding from Russia in a deal which includes preparing a Russian driver for next season.

Sauber says the partnership involves two investment funds and Russia's National Institute of Aviation Technologies.

Financial details were not revealed, but Sauber says in a statement the deal gives the team "a solid foundation to increase its competitiveness on a long-term basis."

Last week, team president Peter Sauber said the financial difficulties had become "uncomfortable and embarrassing."

The Russian partnership includes developing driver Sergey Sirotkin "to prepare him as a racing driver for the team in 2014," Sauber says.

Sauber is eighth of 11 teams in the constructors' standings with 2013 drivers Nico Hulkenberg of Germany and Esteban Gutierrez of Mexico.