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Wednesday, 15 August 2007 |
Dutch car firm Spyker may sell F1 team
Dutch sports car manufacturer Spyker is considering selling some or all of its Formula One team as it is looking into ways of raising more money.
Recent bad press about its credit worthiness have forced Spyker to need additional funds to keep its finances liquid in the short-term, and a statement by Spyker read: "Of the various refinancing scenarios being considered, the (partial) sale of the Formula One team is one possibility."
Spyker Formula One team director Michiel Mol is reported to be thinking of buying the racing team but would be stepping down as chief executive of the parent company to avoid internal problems.
Spyker, which was founded in 2000, are well aware they will probably make a financial loss in 2007, because the Formula One operation costing more to run than was expected.
Earlier in the year Spyker dropped Dutch driver Christijan Albers.
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Last Updated ( Thursday, 16 August 2007 )
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Motor Sports 
