Formula One boss Bernie Ecclestone has teamed up with a Luxembourg investment firm to launch a last-minute rescue bid for Swedish carmaker Saab, British media reports said Friday.

Luxembourg-based Genii Capital announced it was interested in making an offer with Ecclestone, just as the deadline for final bids for Saab expired at 2200 GMT Thursday, the BBC reported.

The privately-held firm said it would "aggressively work towards a successful closing of the transaction with all the relevant stakeholders of the company," according to the BBC.

It said it believes Saab has "tremendous brand value in a number of key automotive markets, as well as an innovative image," the reports said.

Genii already has links with Ecclestone after it last month bought a stake in the Renault Formula One team, allowing the team to remain in the sport.

News of the bid headed by the Formula One chief comes as Dutch sportscar maker Spyker made a last minute bid for the Swedish unit before the expiry of an extended deadline to save it from closure, Spyker's chief said Friday.

"Spyker Cars today has made a revised offer to General Motors for the acquisition of Saab Automobile A.B.," Victor Muller said in a statement.

GM extended a deadline to consider offers for Saab last month after Spyker approached the US automaker with a last ditch proposal.

Saab is one of four storied brands that GM is shedding as part of a massive restructuring effort that began in 2005 and accelerated last year when the largest US automaker went bankrupt.

Analysts have warned that some 8,000 jobs could be lost with Saab's closure.