Bernie Ecclestone, Formula One director, in collaboration with Luxembourg investment firm to launch a last-minute bid to save for Saab, the Swedish automaker. Ecclestone and the geniuses of capital did just before the deadline for final bids for the company expired on Thursday.General Motors (GM), the largest automaker in the U.S., announced in December that it would liquidate its ownership of Saab, which employs 3400 people in Sweden. However, GM extended a deadline to consider bids for the company after Spyker, a Dutch sports car manufacturer, approached the U.S. company with a last-ditch proposal.”Tremendous brand”In a statement announced Genii Capital’s “interest in making a deal to acquire a majority stake in Saab SAS in a partnership with Ecclestone.” Geniuses said it would “aggressively pursue the successful conclusion of the transaction with all stakeholders in the company.” It added that Saab had “tremendous brand value in a range of important car markets and an innovative image.The privately held company has established contacts with Ecclestone after the last month bought a stake in Renault’s Formula One team, making clothes to stay in the sport. Spyker, who confirmed late on Thursday it had made a better offer, hoping to win the Saab’s technical resourcees and distribution networks while adding his entrepreneurial skills to the new group.Third CommandmentSwedish media reported on Friday named Jan Nygren, a former executive of the aerospace arm of Saab and former senior official in the Defense Department, as head of a group of Swedish investors, who had also filed a last minute bid for Saab.Nygren confirmed to Reuters that he was part of a group of investors interested in the Saab, but refused to provide further details about the deal. “I can confirm that I am part of the team that has shown formal interest in order to save Saab from the settlement, but that’s about it,” he said. Saab is one of four brands that GM makes as part of an extensive restructuring effort that began in 2005 and accelerated last year when the American car manufacturer went bankrupt. +Analysts have warned that about 8,000 direct jobs and would be lost with Saab’s closure.