By Huw Alban
August 28 2006

Our thanks to 'Rime' for posting the press release from Spyker Cars on this sites forum. I've added my first initial thoughts and reaction to the press release. It'll be interesting to watch this one develop over the next few weeks.

Press release from Spyker Cars:

Mon 28 Aug 2006 SPYKER CARS AND M-CONSORTIUM IN NEGOTIATION FOR F1 TEAM

Zeewolde, The Netherlands, 28 August 2006 - - In reaction to various rumors in the press, Spyker Cars N.V. and the M-Consortium headed by Michiel Mol make the following statement.

Spyker Cars NV and the M-Consortium confirm that currently negotiations are taking place with the owner of Midland F1 with respect to a possible acquisition by Spyker of the Midland F1 team. The outcome of the negotiations is still depending on a number of conditions and circumstances. In the event that such acquisition would materialize, Spyker will consider a share issue to (partially) finance the transaction. M-Consortium has expressed its willingness to subscribe to this issue for a large part.

At the appropriate time further announcements will be made. In any event the acquisition will be subject to Spyker Shareholders' and Supervisory Board approval.

End of press release.

 

In some ways it is good to finally get some clarity as to what is going on, but at the same time my thoughts are with the employees of the team who must be wondering about their futures this evening.

Despite all this going on in the background, MF1 are still cracking on with their development programme and are due in Monza this week to work on just that. One interesting point to note to add to this press release; I notice that F1Racing.net are claiming that Christijan Albers will announce his future plans on the 8th of October at Suzuka. Would it be unfair to speculate that this race has been set as a deadline to get a deal done with Midland for the team, and that Christijan had his future in F1 sorted out whether the deal goes in or not? His manager Lodewijk Varossieau states exclusively to F1Racing.net that Christijan will be racing in F1 in 2007, but I can't help but wonder whether an option on his future depends on the outcome of the team purchase negotiations.

At the end of the day, no matter what happens, we here at MidlandF1Online sincerely hope that the team as a whole benefits and continues to move forward. I am making a commitment, right here and now, to support this team no matter who owns or runs them and hopefully I will continue to be allowed to share that support publically with you all.

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