Spyker confirms MF1 interest

Since Alex Shnaider's Midland Group took over Jordan in early 2005 there has been nothing but rumours that the team was back on the market. In the face of the most recent speculation Dutch car company Spyker, along with Michiel Mol's M-Consortium, has confirmed that it is in talks to acquire MF1 Racing.

"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," said a statement released by Spyker on August 28th.

"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."

In 2004 Midland announced its intention to enter F1 in 2006 and was originally thought to be building a team from scratch. However, Eddie Jordan confirmed in January 2005 that his team would be taken over by the Midland Group.

Under the new ownership the Silverstone squad continued to race as Jordan in 2005 -- and scored a podium finish at the controversial US Grand Prix -- then changed name to MF1 Racing for 2006, with drivers Christijan Albers and Tiago Monteiro.

Spyker is a comparitively small maker of cars that is yet to make a profit but is reportedly expected to do so in the next few years. Michiel Mol, of the Lost Boys internet company, has long been rumoured to move into F1 and was last linked with a buyout of Minardi before Red Bull snapped up the team.