Bernie Ecclestone joins Saab bidders

Claire Edwards

Formula One boss Bernie Ecclestone is part of a bid to buy Swedish car maker Saab according to reports.

Ecclestone has joined forces with one of the bidders being considered by General Motors, Genii Capital, which recently invested in the Renault F1 team and is understood to have made an offer for Saab.

Speaking to Bloomberg News, Ecclestone said, "Saab is a good brand that has probably been neglected by the current owners."

"We don't own it yet, so let's see what happens," he added.

GM has also received an offer from Dutch sports car maker Spyker and the Swedish press has reported a third bid from a Swedish consortium.

Spyker's bid is its second, after GM rejected its initial offer and said it would close down the company if a suitable sale was not agreed.