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Not again!; Jordan/Midland/Spyker/?????
Topic Started: Aug 14 2007, 07:34 PM (393 Views)
Paul_Murtagh
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BBC Sport - Spyker considers sale of F1 team

Dutch sports car maker Spyker could sell some or all of its Formula One team as part of a refinancing plan.

The firm said that negative publicity about its credit worthiness had forced it to seek addition funds to keep its finances liquid in the short-term.

A Spyker statement said: "Of the various refinancing scenarios being considered, the (partial) sale of the Formula One team is one possibility."


If they have new owners by next season, surely they would have achieved some sort of record - 4 different names and owners in 4 consecutive seasons
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safc_fan89
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That would be a waste.
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vikki
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thats a pity. :(

seemed to be making a go of it - more than midland did anyway!

wonder where the money would come from for this buy-out?

takes a lot to run an f1 team even if you arent doing a lot of photocopying.
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Paul_Murtagh
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If they do sell they are making a joke out of the team that Eddie Jordan worked so hard to keep in the sport. At the end of his first season he was $3m in the red but turned it all round. I'm sure he would be digusted to see the team he worked so hard to build being sold once again
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safc_fan89
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He could buy it back and do it properly?
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Paul_Murtagh
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safc_fan89,Aug 14 2007
08:42 PM
He could buy it back and do it properly?

Agreed. He brought a different dimension to the sport off-track and his cars were always there or thereabouts until the final couple of years. But I think Eddie doesn't want the pressure of running a team again.
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Red Andy
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Considering that he applied for the 12th spot on the 2008 grid, I would say he might....
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sportsman
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Red Andy,Aug 15 2007
09:31 AM
Considering that he applied for the 12th spot on the 2008 grid, I would say he might....

Much as I would like to see EJ in F1 again somehow can't see it happening.
When the tobacco sponsorship dried up EJ searched everywhere for a replacement sponsor. None were forthcoming so he had liitle option other than to sell up.
In today's F1 with sponsorship becoming much more difficult to find, although he could probably afford to buy the team finding the money to run it is a very difficult proposition.
My guess is that a manufacturer will buy simply to get the grid spots, not neccessarily the actual team as such. With the fast economic booms in Far Eastern countrie many manufacturers are casting their eyes to this area so I would not be a bit suprised if a complete outsider ie a Korean or a Chinese interest or Russian for that matter.
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safc_fan89
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Weren't Hyundai mentioned at some point?
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sportsman
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safc_fan89,Aug 15 2007
10:21 AM
Weren't Hyundai mentioned at some point?

Dead right. So have Deawoo (sp). Also there are large mibile phone manufacters looking for exposure in these makets ala Vodaphone, Nokia and several others.
I wouldmost likely expect a consortium of a Far Eastern manufacturer with sponsorship from an international company providing electronic services. ie Mobile phone nets, ISP and similair.
ETG who are the big players in India in these markets?
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rickyclean
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Cricky you'd think someone in there had a business mind and actually thought things through before purchasing an F1 team <wtf>
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TheCompleteGuitarist
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rickyclean,Aug 15 2007
11:12 AM
Cricky you'd think someone in there had a business mind and actually thought things through before purchasing an F1 team <wtf>

Let's face it, there are really only two teams in F1 currently and there have barely been any more than 3 for the last 7 or so years.

It could be said that anyone who invests anything in F1 right now and especially as a new business is effectively committing financial suicide.

Be interesting to see how Dave Richards does.

If you enter a sport where it might take a huge amount of luck or decades to become succesful then what hope does anyone have.

Negative? Realistic?

Doesn't crikey have an E and no C.
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Rob
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TheCompleteGuitarist,Aug 15 2007
10:20 AM

It could be said that anyone who invests anything in F1 right now and especially as a new business is effectively committing financial suicide.


Well you know the best way to make a small fortune in racing, start with a large one.
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TheCompleteGuitarist
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We'll see Spyker driving with sandwhich board over the car saying

"The end is nigh"

and they won't be referring to just themselves. I somehow feel that the sport itself is on the brink of self destruction.
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sportsman
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TheCompleteGuitarist,Aug 15 2007
04:56 PM
We'll see Spyker driving with sandwhich board over the car saying

"The end is nigh"

and they won't be referring to just themselves. I somehow feel that the sport itself is on the brink of self destruction.

I couldn't agree more.
With the constant meddling and changes to regs by the FIA, all suppossedly designed to cut costs they have priced F1 out of the market for any new teams to enter.
Soon very soon F1 will implode on itself and only Ferrari,McClaren and BMW will be the only competitors.
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