Spyker buys Midland F1 team
11 September 2006

Dutch sports car firm Spyker has officially entered Formula One, after its purchase of the Midland team was completed just before the Italian Grand Prix.In a deal worth just over $106m (£56.8m), Spyker took control from Russian millionaire Alex Shnaider. But it will keep the current Midland F1 team boss Colin Kolles to oversee the new Spyker MF1 Racing operation. Spyker CEO Victor Muller said, "The entry into Formula One is an unparalleled way to both underline our commitment to racing and to benefit from a massive increase in brand awareness around the globe."Spyker has also confirmed that Mike Gascoyne, the highly-rated technical guru who has previously worked at Jordan, Renault and Toyota, will become the team's Chief Technical Officer. "I'm delighted to come back to F1 to a wonderfully challenging opportunity," said Gascoyne.

Spyker has yet to name an engine supplier for the 2007 season, but there has already been speculation that it might get Ferrari engines as part of a deal that would extend to supplying the powerplant for its D12 Peking-to-Paris luxury SUV road car.

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