Written by:
Kevin Krefting
08/13/2007
Amsterdam, Holland
Parent company struggles may force a partial sale of Spyker's F1 operation. (LAT Photo)
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Poor results for Spyker Cars may force the Dutch firm to sell part of its Formula 1 operation, the company admitted today. Spyker Cars is in need of additional funds to secure short-term liquidity.
"Of the various refinancing scenarios being considered, the [partial] sale of the Spyker Formula One Team is one possibility," the company statement said. Spyker opened its capital in 2004, and given the scenario delisting the corporation is a possibility.
If the sale does go ahead – and Spyker claims it has many unsolicited offers to browse through – one of the likeliest potential buyers would be Dutch media mogul Michiel Mol, who's already involved in the operation as "team director". Mol is also one of the largest shareholders in Spyker Cars, which sold less than 100 units of its hand-made sports cars last year.
Get the inside story of the people, science and history of Formula 1 each month in RACER. Jonathan Noble analyzes the various ideas under consideration by the FIA and others for spicing up F1 in our September issue, on sale now.
