Lawrence Stroll, left, and Michael Kors during Olympus Fashion Week in 2006
Montreal billionaire Lawrence Stroll is negotiating to purchase Sauber, the struggling Swiss Formula One racing team, according to reports from Germany, England and Switzerland.
The rumours originated in Germany on Sunday and on Monday, the website Motorsport.com confirmed the talks while also noting that Stroll had previously been in discussions to purchase an interest in CVC Capital, the private firm that owns Formula One.
The English newspapers have not picked up the reports. Neither Stroll nor team founder Peter Sauber have spoken publicly about the matter, other than for Sauber to issue a "no comment."
Stroll, a car collector who made a fortune in the fashion industry, made the Forbes Magazine richest-people-on-the-planet-list at No. 817 with wealth estimated at $2.3-billion. He owns a Ferrari dealership in Montreal and the Circuit Mont-Tremblant.
His son, Lance Stroll, is a member of the Ferrari Driving Academy. Ferrari supplies engines to Sauber, a team that's failed to score points on the F1 circuit this season, along with other teams.
Sauber signed former world champion driver Jacques Villeneuve of Montreal in September of 2004 to a two-year contract.
Read More: The grooming of Lance Stroll, Canada's next Formula One driver
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