Sauber presented their new Formula One car on Monday, celebrating the Swiss-based team's 25 years in the sport with golden lettering but little in the way of sponsorship branding on the blue and white machine. "The anniversary car for a new era," said Sauber, which was bought by Swiss investment firm Longbow Finance last year, alongside pictures of the C-36 car posted on the team's website (www.sauberf1team.com). The words ‘25 years in Formula One' were written in gold on the side of the airbox and in front of the driver but the car shown was otherwise a blank canvas in terms of sponsorship. The new livery is a change from last year's blue and yellow, the corporate branding of now-departed backer Banco do Brasil. Ferrari-powered Sauber finished 10th of the 11 teams last season, scoring their two crucial points only in the penultimate round in Brazil to overtake now-defunct Manor. "Together with Longbow Finance S.A., we have great opportunities to be competitive again and to return to previous successes in Formula One," said team principal Monisha Kaltenborn. "We want to position ourselves with a new approach, and we have already taken the first steps in order to build a solid foundation for the future." Kaltenborn said Sauber had the resources to develop the car, which will use the reliable 2016 Ferrari power unit rather than the latest model, through the season and was aiming at a return to the team's previous place among the midfield. Sauber have only once won a race, in Canada in 2008 when BMW owned the team. The team has retained Swedish driver Marcus Ericsson this season but Brazilian Felipe Nasr has been replaced by Germany's Pascal Wehrlein. The wider and lower car has no carry-over parts from last season, reflecting the new aerodynamic and technical rules that should see faster lap times. "We put greater emphasis on aerodynamic stability as opposed to maximizing downforce," said technical director Joerg Zander, who returned to Sauber only last month after a previous stint at the Hinwil factory under BMW. "Basically, big teams also have an advantage when it comes to major changes in the regulations. But when the cards are reshuffled new opportunities always present themselves as well." Testing starts in Barcelona next week, although Wehrlein is ruled out with a back problem. Sauber has yet to name a replacement. Monday marked the start of a week of Formula One launches, with Renault next up in London on Tuesday. Wolff and Lauda renew Mercedes F1 contracts Mercedes team bosses and shareholders Toto Wolff and Niki Lauda have agreed new contracts to the end of 2020, the Formula One world champions said on Monday. The date aligns the two Austrians' contracts with the expiration of the current Commercial Agreement with Formula One Management. Mercedes Motorsport head Wolff, who is effectively the team principal, has a 30 percent stake in Mercedes Grand Prix Limited while non-executive chairman Lauda, a retired triple world champion, has 10 percent. Daimler AG hold the remaining 60 percent. "In 2013, we restructured the management of the Team with the clear goal of improving our performance. Since then, however, the results have exceeded our expectations," said Daimler chairman Dieter Zetsche in a statement. "A key factor in this success has been the combination of Toto's entrepreneurial skills and Niki's experience. Their renewed commitment gives our program important continuity for the next four years." Mercedes have won both the drivers' and constructors' championships for the past three years. "The last few years have been some of the most enjoyable I have had in Formula One," said Lauda, who won his titles with Ferrari in 1975 and 1977 and McLaren in 1984. He suffered a near-fatal accident in 1976. Williams retain Di Restaas reserve driver Britain's Paul Di Resta will continue as reserve driver for Williams this season, the Formula One team announced on Monday. The 30-year-old Scot raced for Force India in 58 grands prix between 2011 and 2013, scoring 121 points, and became Williams' reserve last year. He will attend races in his role, ready to stand in if needed. "His extensive Formula One knowledge will once again be invaluable, especially with new regulations in place for the 2017 season," said deputy team principal Claire Williams in a statement. Mercedes-powered Williams have 18-year-old Canadian rookie Lance Stroll as one of their race drivers, along with Brazilian veteran Felipe Massa. Rule changes, with wider tires and faster cornering speeds, are expected to make the cars harder to handle and more of a physical challenge for drivers. — Reuters