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After losing 13m euros in the first half on 2007 and making limited progress in this season's championship bout, Spyker has finally decided to offload its F1 team to a consortium of Indian investors. Orange India Holdings, headed by Vijay Mallya, chairman of the UB Group, purchased the company for 88m euro -- 14m euros more than Spyker initially paid for the team last year.

Rumor has it that with Mallya heading up the team, Narain Karthikeyan, an Indian test driver for Williams, may take the helm of the newly founded F1 team next season. Something that would really draw out the crowds if India hosts a race in 2009.

[Source: Spkyer]

Officially Official: Spyker F1 team sold originally appeared on Autoblog on Sat, 06 Oct 2007 09:04:00 EST. Please see our terms for use of feeds.

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