Simplify the following text for a Grade 6 native English-speaking person.
Original: At the end of the 2005 season the team was bought by BMW , with Peter Sauber retaining a 20 % stake , and was renamed BMW Sauber .
Simplified: At the end of the 2005 season the team was bought by BMW and was renamed BMW Sauber . Peter Sauber retaining a 20 % stake in the team .