Autoblog

Could it be that running a Formula 1 program might be more expensive than Spyker thought? Or perhaps the F1 team is the more profitable part of the equation? The little Dutch sports car maker that has been fielding an F1 team this season is rumored to be on the brink of bankruptcy. We've heard these rumors before but gave the company the benefit of the doubt because we have also reported increased sales counts to counteract them, but so many outlets are reporting about their troubles that we felt it irresponsible not to report them this time.

For its part, Spyker took the bold step of asking financial services watchdog AFM to investigate because its stock price plummeted 12-percent after the latest round of newspaper reports, and the whole day of trading ended up being reversed. So maybe these are just rumors after all, but sometimes it's hard to fight against bad publicity. GP Update had reported about the companies initially asking Spyker to file bankruptcy. Dutch News reported about the bankruptcy reports, stock drop and ensuing investigation and reversal. Forbes reported about the reversal as well. GrandPrix.com is focusing on the fact that the F1 team seems to be caught in the middle of the whole thing, with conflicting reports that the production car division is tapping into the F1 budget. We'll keep an eye out for more info as it becomes available.

Thanks for all the tips, folks!

[Sources: GP Update, Dutch News, Forbes, GrandPrix.com]