Kingfisher and Mol place bid on Spyker F1

[Appie]

The Mol Family and Vijay Mallya have formed a consortium that has made an offer to the Board of Spyker Cars N.V. to acquire 100% of the Spyker Formula One Team they confirmed.

This offer has been accepted by the Board of Spyker Cars N.V. and exclusivity has been granted to the consortium Orange India Holdings Sarl to proceed with due diligence, binding agreements and such other formalities that are necessary to achieve completion within 30 days.

Michiel Mol stated: "I have been a keen investor in Spyker and fully supported the acquisition of the Formula One Team from the Midland Group. I am very happy to partner Vijay Mallya in this exciting new venture. India has a booming economy and is a country with great opportunity. With this step we continue the involvement of The Netherlands in Formula One. I am looking forward to make this a competitive Indian Dutch combination. With the resources Vijay Mallya brings together with his Indian counterparts, I am confident that the Formula One Team has a very bright future".

Commenting upon the transaction, Vijay Mallya said "I am delighted to partner the Mol Family in the acquisition of the Spyker Formula One Team. India is a country with great opportunity and I hope to see a Formula One race being staged in India in the next 2 years. Quite apart from research and development resources available in India, Indian companies are going global and would leverage the Formula One platform to gain international exposure. It will be my endeavor to work closely with the Spyker Team management to improve the performance of the cars going forward".

Vijay Mallya is the Chairman and controlling shareholder of the UB Group which has market leading positions in the beer, spirits and airline businesses in India. With annual revenues in excess of US$ 3.0 billion and a market capitalization of approximately US$ 5.0 billion, the UB Group is the owner of famous brands such as Kingfisher. In May this year, United Spirits Ltd., the spirits arm of the UB Group, acquired Scottish distiller Whyte and Mackay for US$ 1.4 billion.

Vijay Mallya's Kingfisher Airlines is the current sponsor of the Panasonic Toyota Formula One Racing Team. He has had a longstanding presence in Formula One having sponsored the Benetton Formula One Team in 1996/1997.

Vijay Mallya is a member of the Indian Parliament and also serves as the Chairman of the Federation of Motor Sports Clubs of India, the Government of India recognized National sporting body as well as the Motor Sports Association of India, the current FIA ASN for India.

Source

 

[GT4 genius]

It'll not help spyker move forward at all. And there just doing it so as they get an indian grand prix

 

[Lee]

Well this will be Spyker/Midland/Jordan's 4th owner in 3 seasons, continuity really isn't their strongest point.

Just hope they can actually last a season this time round..

 

[Sting]

Bah. Bring back Jordan Grand Prix!

 

[Blake]

Agreed. Minardi, too.

 

[Robin]

Gosh this team has seen a fair few amount of colour changes by now

Wish there was an MG F1 Team but that aint gonna happen now...

 

[GT4 genius]

Bah. Bring back Jordan Grand Prix!

Yeah i'd love to see an irish team back in F1, maybe then our terrestreial channels would broadcast F1 then.
Its not likely to happen though, unless someone offered me 300 million dollars a brilliant aerodynamist, stratagist, engineer, pit crew etc...........

 

[Danny]

Agreed. Minardi, too.

To do that, they'd need to get rid of Toro Rosso.

If they did, I would have no reason to live.

 

[prisonermonkeys]

According to Formula1.com, the deal is all set to go, with Michael Mol and Vijay Mallya's bid being approved by the Spyker board.

But honestly, what do these people expect? They're not going to be competitive in their first season of F1 - much less so with a perennial tailender such as Jordan (in its later years)/Midland/Spyker - and these constant restructres are simply going to be bad for team development. It's like having to go back to square one each year, just when they were about to progress onto the next square.

 

[Skid Mark 33]

Jordan F1 had it's last year in 2005. Midland then brought it out and they did'nt even see it out to the end of 2006. Then Spyker brought it, which was the team which the Midland Team became for the last 3 races of 2006 and the whole of 2007. And now some Indain bloke and Mr. Mol have brought the team out, and will make their team will make their debeut in 2008! To be honest, the former Jordan F1 team has been recycled more than a can of coke!

 

[Skid Mark 33]

Bah. Bring back Jordan Grand Prix!

Agreed. Minardi, too.

I agree with both of you. It would be great to bring back the only true fighters in F1 GP. They never gave up without a fight. Never accepted defeat! In my view the only true independents who would stand up for them selfs!

 

[Muzaffar]

Load of rubbish....

Can a Real team owner actually buy Spyker instead of these rich businessmen? I mean these people just have to mix their hands in F1. I say go and 🤬 off and let a professional take over. I mean there are so many deserving teams out there that should enter F1...

Jordan and Minardi actually make F1 more exciting. Even if they are always the "backmarkers" that everyone loves to hate, at least they put up a fight. Heck, they even give the midfield runners a hard time given the right moment and car.

 

[D0wNForc3]

Even if they are always the "backmarkers" that everyone loves to hate.

well i really dont beleive that comment.

 

[Muzaffar]

well i really dont beleive that comment.

Well its partly true. I don't mean to criticize them or anything but they do tend to cause some problems for the front runners. Especially at small circuits like Monaco or Montreal. Well thats just my opinion, don't get mad at me or anything....

 

[D0wNForc3]

your just the first person i have seen that has said anything like hating minardi or jordan. most people seem to have a soft spot for the underdog, especially one's with so much heart. haha. im not mad at all. but it does seem i just had a go at another one of your post, my bad, nothing personal..........bloody lamborginis.

 

[GT4 genius]

Has no one noticed that this Vijay Mallya guy is actually a politician, he is just doing this so as bernie gives india a grand prix, 10 euro says once that happens it'll be up for sale again

 

[peterjford]

Has no one noticed that this Vijay Mallya guy is actually a politician, he is just doing this so as bernie gives india a grand prix, 10 euro says once that happens it'll be up for sale again

There is no way I'll take that bet!

How well backed is prodrive? Are they going to be the next red-headed step-child of F1?

 

[GT4 genius]

How well backed is prodrive? Are they going to be the next red-headed step-child of F1?

I dont know what you mean by that, i can see prodrive being a mid-field competitor in 2009, they have nothing to gain other than success so i dont think the'll be sold quickly. And the guy behind it Richard ...... something (i forget his name) did a great job with honda F1 and has had great success with subaru and prodrive, he managed the aston martin team that won its category at Le Mans earlier this year.

 

[Sureboss]

Dave Richards.

 

[peterjford]

I dont know what you mean by that, i can see prodrive being a mid-field competitor in 2009, they have nothing to gain other than success so i dont think the'll be sold quickly. And the guy behind it Richard ...... something (i forget his name) did a great job with honda F1 and has had great success with subaru and prodrive, he managed the aston martin team that won its category at Le Mans earlier this year.

I read up on Prodrive. They seem well qualified and I am looking forward to seeing them compete. I just wish Spyker had some kind of stability so they could be a more legitimate team.

The "red-headed step-child" is a term to mean someone that gets beaten. Both literally and figuratively. Comes from a phrase I have heard and often used in sports. In hockey it would be: "Gretzky beat the goalie like a red-headed step-child".

 

[prisonermonkeys]

Dave Richards.

Whatever happened to them, anyway? They were supposed to make an announcement around the British Grand Prix, but notihng eventuated. I daresay they're actually going to appear on the grid next year; they they don't they'll probably get paid a visit by Mr. E's attorney.

 

[Sureboss]

What's happened?

I don't know, probably something about not paying the crooks. They can get nasty if you don't pay up, horse's head in the bed, etc.

 

[prisonermonkeys]

I'm sorry ... what!?

That was totally lost on me ...

 

[GT4 genius]

I think they wll be in F1 next year, with mercedes everything, other than the drivers and colours!

 

[MustangSVT]

your just the first person i have seen that has said anything like hating minardi or jordan. most people seem to have a soft spot for the underdog, especially one's with so much heart. haha. im not mad at all. but it does seem i just had a go at another one of your post, my bad, nothing personal..........bloody lamborginis.

I use to have a soft spot for backmarker teams that actually gave an effort.

Like back in the day when Sauber would every so often do reasonably well, or when a Jordan would finish a race (and they had decent drivers years ago too).

Same goes for teams like Tyrell, Stewart and Arrows back in the day.

Nowadays, I only have a "soft" spot for Super Aguri. Teams like Spyker, Red Bull, Toro Rosso, meh... I don't see what anyone could like about them.

 

[GT4 genius]

Has everyone forgotten that jordan weren't that bad in the second half of the 90's i think the finished a impressive third in eh was it 1999

 

[darkfinal]

Has everyone forgotten that jordan weren't that bad in the second half of the 90's i think the finished a impressive third in eh was it 1999

And Indy '05

 

[GT4 genius]

I meant overall, remember frenzten won a few races for them. And back even further remember belgium were Jordan got a 1 2 in torrential rain! F1 needs eddie jordan back, i miss him

 

[MustangSVT]

Has everyone forgotten that jordan weren't that bad in the second half of the 90's i think the finished a impressive third in eh was it 1999

Nope didn't forget that. I believe it was 1999 when Frentzen finished 3rd in the championship and also won 1 or 2 races that year too. Also in '98, there was that 1-2 finish with Damon Hill and Ralf Schumacher. Jordan did well in the 90s and would have moments of surprise power, similar to March/Leyton in late 80s.

 

[GT4 genius]

Those were the days, F1 was actually on irish TV. Now i have to watch the english one!