Having not won a Grand Prix as an independent, the team was sold to BMW in 2005, and competed as BMW Sauber from 2006 to 2009, scoring one victory. At the end of the 2009 season BMW pulled out of Formula One and the team's future remained uncertain for several months, until it was sold back to Peter Sauber and granted a 2010 entry. Due to issues with the Concorde Agreement, the team remained as "BMW Sauber" for the 2010 season. In March 2010, Peter Sauber announced plans to change the team name during the season, but the FIA announced that they would have to wait until the end of the season to change their name. At the beginning of the 2011 season the team dropped BMW from their name.
Until mid-2016 Peter Sauber held a controlling 66.6% stake in the team, with the remainder belonging to then CEO Monisha Kaltenborn; she had been a leading figure in the team since BMW's withdrawal. The team was sold during the 2016 season to Swiss investment firm Longbow Finance S.A, with Pascal Picci taking over Peter Sauber's role as chairman of the board and president.