Sauber has now paid the two thirds of its 300-strong workforce in Switzerland who were waiting for their overdue February wages.

"The financial situation for Sauber is tense," announced the well-connected Swiss newspaper Blick, "but at least the outstanding February wages are now paid."

"Sauber can breathe, but not breathe easy," the report added.

The Hinwil-based team's communications chief Robert Hopoltseder confirmed: "The February wages were paid."

Sauber is now preparing for the first race of the season in Australia, but Blick said that a crucial search for a major sponsor is also on.

The spokesman said that he was not at liberty to talk in any more detail about financial matters, according to DPA news agency.