Simplify the following text for a Grade 11 native English-speaking person.
Original: Shortly after the United States Grand Prix , Peter Sauber announced that Credit Suisse had sold BMW their majority share in his Sauber team , which announced its intention to run as BMW 's factory team in 2006 .
Simplified: Shortly after the United States Grand Prix , Peter Sauber sold BMW a majority share in his Sauber team , which announced its intention to run as BMW 's factory team in 2006 .