Midland's Alex Shnaider.could save Spyker | Formula 1 complete

Midland's Alex Shnaider.could save Spyker

A possible savour of the Spyker team has a familiar ring to it -- Midland's Alex Shnaider. The Russian-Canadian billionaire sold the Silverstone based team to Spyker last year, but retains an interest due to monies still owed.

So with Spyker in financial difficulty and searching for a buyer, the fact that Midland holds the formula one team as security against its debt could become significant.

Shnaider told F1's official website on Friday that he expects the current Dutch management to pay its bills.

"Whether or not Spyker is in some turmoil, we expect the deal to be executed as agreed, and we will try to help them along if requested," he said.

The 37-year-old admitted, however, that Midland could be a viable creditor for the team.

Shnaider said: "We have rescued the team in the past and we are capable of doing it again, if necessary."

But he advises Spyker to find a partner or simply sell up.

And "if we are forced to take the team back, then we will fund it in the short term while also looking for (a) commercial partner."

< Prev		Next >

Add comment

JComments

2010 guide

tickets

Be our newshunter

We urgently need a newshunter for F1complete.com - Contact us for more information.

Current race

Hungarian GP
Friday practice 1
Friday practice 2
Saturday practice
Qualifying
Race

2010 Calendar

Rd	Grand Prix	Info
1	Bahrain GP	p1	p2	p3	Qu	Race
2	Australian GP	p1	p2	p3	Qu	Race
3	Malaysian GP	p1	p2	p3	Qu	Race
4	Chinese GP	18 April
5	Spanish GP	9 May
6	Monaco GP	16 May
7	Turkish GP	30 May
8	Canadian GP	13 June
9	European GP	27 June
10	British GP	11 July
11	German GP	25 July
12	Hungarian GP	1 August
13	Belgian GP	29 August
14	Italian GP	12 September
15	Singapore GP	26 September
16	Japanese GP	3 October
17	Korean GP	17 October
18	Abu Dhabi GP	31 October
19	Brazilian GP	14 November

2010 cars

McLaren MP4-25	pictures
Ferrari F10	pictures
Sauber C29	pictures
Mercedes MGP W01	pictures
Toro Rosso STR5	pictures
Renault R30	pictures
Virgin VR-01	pictures
Red Bull RB6	pictures