The Dutch automaker, Spyker, could sell a part or all of its Formula 1 Team as part of the new refinancing plan. Spyker officials said that the team brought negative publicity on its credit worthiness and survivability and these facts made them think seriously about keeping it.

One possible buyer could be Michiel Mol, current chief executive and director of the Spyker Formula 1 Team. In this way Mol would step down as CEO and director of the team and Hans Hugenholtz, will temporarily take on the role of CEO until a successor for Mr. Michiel would be found.

The team’s journey started in September 2006 at the Italian Grand Prix when Spyker Cars N.V acquired Midland F1 Racing, formerly Jordan Grand Prix, from the Midland Group. At the following Grand Prix in China, the team’s newly designed livery, a bold combination of the Dutch national colour orange and black, was launched on track for the first time.

In an exciting new development, the team signed a major new title partnership deal on 15 March 2007 that saw it rebranded the Etihad Aldar Spyker Formula One Team.

Source: spyker

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