Spyker CEO steps down, F1 team could be on the block
Well, that was short-lived. Spyker announced yesterday that after the negative publicity surrounding the exotic automaker's credit worthiness, combined with its aim of staying afloat in the future, it may consider selling a portion, and possibly all, of its Formula One team.
Spyker's CEO, Michiel Mol, is currently contemplating buying the team, and as such, will be stepping down in order to avoid a conflict of interest. The company's vice-chairman, Hans Hugenholtz, will be taking the reigns as the acting CEO until a replacement for Mol is found.
The move comes as Spyker works to refinance its operational expenses, and although the automaker isn't keen on releasing all the details of the restructuring, you can find more information at their website, here.
[Source: Spyker]
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Reader Comments (Page 1 of 1)
nagmashot 5:24AM (8/15/2007)
that would be sad...Spyker gave Honda a good run for the money about last place in this year F1 season... I laught my ass off as Rubbens Barricello driving Honda F1 was not able to follow the Spyker F1 speed in the last F1 GP race.
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Vinny 11:34AM (8/15/2007)
This team's spot in F1 should just be auctioned off every year. 2005 Jordan. 2006 Midland. 2007 Spyker. 2008...
Maybe next year it'll be Hyundai.
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ermax18 12:35PM (8/15/2007)
I would guess David Richards will snag it.
john 1:48PM (8/15/2007)
Maybe Gerhard Berger can but it and own half of all the lousy teams in F1. What's Dutch for 'Red Bull' ?
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john 1:49PM (8/15/2007)
...buy it...