Peter Sauber says he is 'very confident' that his team will secure a place on the grid for the 2010 F1 season.

Sauber completed a deal to buy the team back from BMW last week after negotiations with the Qadbak Investment group having broken down.

As yet, the team has yet to earn a place on the grid for the 2010 campaign, but with Toyota having withdrawn from F1, Sauber said he was confident that confirmation will soon arrive that the team will line up when the new season kicks off in Bahrain.

“This agreement means that the future of the team and the location in Hinwil are secured,” he told the official F1 website. “I am very relieved about that development. It would have been a crying shame had one of the best Formula One factories closed down. Regarding the slot on the grid, I am very confident that we will be given a final confirmation very shortly.”

Sauber added that he expected to hear news of a decision before the FIA meets in Monaco in early December and was quick to point out that no-one else – Qadbak included – was involved in the purchase.

“I have obtained the financial resources for the acquisition by myself,” he said. “No other backers are involved.

“I have not made any comments on Qadbak in the last two months and I want to keep it that way.”

Despite BMW revealing it was to leave F1, work has continued on the 2010 car and Sauber said progress on the C29 was going well.

“Our 2010 car is perfectly on schedule,” he said. “The development and fabrication have been unaffected by the situation. Having been able to proceed with uninterrupted development was also possible thanks to excellent cooperation with Ferraro, who submitted all the relevant data [for the engines] very early. Regarding the performance of the C29, we are all very confident. Two months before the final tests, we have already reached a very good basis for further development.”