Spyker being sold?

[Muzaffar]

Well is this true?

From: itv.com

Spyker considers sale of F1 team
Wednesday, 15, August, 2007, 11:34

Dutch sports car maker Spyker is considering selling part of its Formula 1 team to help resolve cashflow problems.

In May this year Spyker Cars launched a “strategic review” which is looking at a variety of refinancing options, including delisting the company from the Amsterdam stock exchange.

The manufacturer, which took over the Midland (nee Jordan) team last September, admitted in a statement that its “short-term liquidity position is tight” and that a partial sale of the F1 outfit may form part of the refinancing plan.

Spyker said negative publicity about its creditworthiness had forced it to seek additional funds to keep its finances liquid and continue investments.

It said continued media speculation had prompted “a number of third parties to make unsolicited offers, including several for the (partial) acquisition of the Formula 1 team.

“Management will begin active consideration of these offers forthwith.”

Dutch businessman Michiel Mol – one of the largest shareholders in Spyker Cars and its ‘director of F1 racing’ – is considering making a formal offer for the team.

To avoid a conflict of interest Mol will step down from his position as interim CEO of the parent company.

Spyker expects its review to be completed by the end of September.

“Of the various refinancing scenarios being considered, the (partial) sale of the Spyker Formula 1 team is but one possibility,” the statement said.

“Due to the ongoing nature of the review process it is too early for Spyker Cars to anticipate or speculate on the possible outcome.”

The company said it expects to make a loss this year and admitted the F1 team would not be “cash-neutral” due to higher than expected team expenditure and lower than expected revenue from TV rights and sponsorship.

and yet,this is from Formula1.com

Spyker team not in jeopardy says Kolles

Spyker team principal Colin Kolles has insisted the team is not in danger of closing. It follows Wednesday’s admission by parent company Spyker Cars that it may sell off all or part of the team as part of a refinancing operation.

“Spyker F1 Team Ltd is completely confident that it has the necessary budget to race in the FIA Formula One World Championship this season,” said Kolles. “There is no doubt that we will be racing with our current driver line-up of Adrian Sutil and Sakon Yamamoto in the Turkish Grand Prix and beyond.

“The recent press statement issued by Spyker Cars N.V should not be taken as an indication that the team is in jeopardy of immediate closure. As part of its own strategic review and refinancing strategy Spyker Cars N.V is considering the (partial) sale of the Spyker Formula One Team. This is however but one possibility.

“Should Spyker Cars N.V. ultimately decide to sell, its management will strive for the final decision to be in the best interests of the team, its employees and partners and that we have the means to achieve our goals that have been set in motion this season.”

Spyker’s Formula One director, Michiel Mol has temporarily stepped down from the position as he considers making a bid to buy the team.

Man,i hope Spyker do stay in F1.There the only team who is not a B-Spec team right now and still applies "pay drivers" on their team....

 

[prisonermonkeys]

Honestly, what were they expecting? To be competitive from Day One? To be fighting for points if not podiums? You don't sign Christjian Albers if that's what you want ...

 

[Metar]

You don't sign Christjian Albers if that's what you want ...

You don't sign Christjian Albers. At All.


That being said, Yamamoto isn't much better. At least F1 newcomer Winkelhock was just as crappy on his first-ever outing. And unlike Yamamoto who crashed his Spyker on a dry track, Winkelhockey survived the grueling wet Nurb'. And Winkelhockey is funny. In German.

 

[Dougboy]

You don't sign Christjian Albers. At All.

I think we can all agree to that. Only reason they considered him was because his sponsors pay a lot