The agency will now be required to promote the team throughout Europe.
The pitch was run by Sauber's key sponsor, Credit Suisse. The first work from McCann, which will appear next year, will aim to draw parallels between the bank and the type of teamwork associated with Formula 1 teams.
Sauber is aiming to boost its profile across the continent to enable it to compete against its more successful rivals such as Ferrari, BMW Williams and Mercedes McLaren. The team recently bolstered its chances of doing this when it appointed the Jordan team driver Heinz-Harald Frentzen, who won two Grand Prix in 1999.
In addition to Credit Suisse, the team is also sponsored by the energy drink Red Bull. It is backed by the Malaysian oil company Petronas.
The review comes in the wake of new rules that have been introduced by the sport's governing body that aim to boost its audience figures. TV viewing for the sport fell by 9 per cent in 2002, amid complaints that it had become too predictable.
McCann-Erickson refused to comment. Credit Suisse was unavailable for comment as Campaign went to press.