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Sauber is hoping to finalise a fresh Formula 1 engine contract with Ferrari before next week's Italian Grand Prix.

Discussions between the two parties have been ongoing for several months, but completing a deal was dependent on Sauber shoring up its financial situation.

In the wake of Sauber agreeing a tie-up with a trio of Russian companies, its Ferrari talks are now nearing a conclusion.

Sauber's salvation - the inside story

Sauber team principal Monisha Kaltenborn was hopeful that matters should be sorted in a matter of days.

"The talks are progressing very well and we hope we can very soon come to the conclusion," she told AUTOSPORT.

When asked if confirmation at the Italian GP was possible, she said: "Absolutely."

Ferrari team principal Stefano Domenicali is equally confident about the matter being resolved soon.

"Things are progressing well," he said. "We want to keep working with Sauber as you know, and hopefully soon we will clarify formally the situation."

Ferrari has already announced that it will be supplying customer engines to Marussia from 2014.