F1 supremo Bernie Ecclestone is part of consortium tabling a late bid to save Saab.
The billionaire is backing the bid led by the Luxembourg-based investment group Genii Capital, which recently bought 75 per cent of the Renault F1 team.
Ecclestone, said: “It's a good brand that has probably been neglected by the current owners. We don't own it yet, so let's see what happens.”
In a press release, Genii Capital said Saab "has a tremendous brand value in a number of key automotive markets as well as an innovative image" and stressed the importance of "VOIP and GPS location based services" in future Saab models.
Genii is reported to be modelling its business plan on Koenigsegg's effort, which fell apart when finance was not forthcoming.
Koenigsegg had said it would make Saab profitable by 2012 by increasing production to 105,000 vehicles a year.
Spyker has also confirmed it tabled an improved offer for Saab late last night.