Sports car maker Spyker has become the first Dutch company to run a Formula 1 racing team, with its purchase of Midland from Russian-born Canadian Alex Schnaider. Spyker is joining forces with Michiel Mol, founder of internet company Lost Boys, to buy Midland for some €84 mln. Schnaider bought the team from Eddie Jordan in 2004. Spyker, listed on the Amsterdam stock exchange since May 2004 .
Spyker F1 Team was a Dutch constructor that competed in the Formula One World Championship in 2007. The Team was created by Spyker Cars after their buyout of Midland F1. At the end of the season, the team was bought and renamed to Force India F1. Team Principal: Colin Kolles (2007) Technical Director: James Key (2007) CEO: Michiel Mol (2007) Chief Technology Officer: Mike Gascoyne (2007)Spyker Formula One Team principal and managing director, Colin Kolles, stated: “Spyker F1 Team Ltd is completely confident that it has the necessary budget to race in the FIA Formula One World Championship this season. There is no doubt that we will be racing with our current driver line-up of Adrian Sutil and Sakon Yamamoto in the Turkish .
Spyker, which bought a Formula One team last September, said its short term liquidity position was tight and its shareholder Strongwind of Luxembourg had supported Spyker with an additional 2 .