New Bentley Designer, David Hilton's Past: Motorcity Europe

Another Good NHRA Racing Day At Pomona

Indy Cars Return To The Milwaukee Mile
Formula One Concludes First Open Test At Jerez, Alonso On Top

Mazda Asks, 'What Do You Drive?': Video

Tesla Model X Unveiling And Ordering Details: Video
$1 Billion Prize Proposed For 100 MPG Car

INDYCAR Sets Leaders Circle Participants For 2012

Bertone Leaks Nuccio Concept Sketches Prior To Geneva Debut

Spyker F1 not in money trouble - Kolles

Viknesh Vijayenthiran

Editor BIO

Vik is an Editor at High Gear Media and contributor for a number of sites within the High Gear Media network. He was a co-founder of... More

LATEST ARTICLE
2012 Lincoln Navigator Recalled For Faulty Head Restraints
Ford has issued a recall on its 2012 Lincoln Navigator SUV as well as the vehicle’s Blue Oval... Read More

#1LEADERBOARD RANK
6911ARTICLES CONTRIBUTED
61COMMENTS POSTED

496 views June 2, 2007

Spyker F1 not in money trouble - Kolles

Enlarge Photo

The Formula One team of the same name is not under threat despite the financial difficulties of its Dutch road-car making parent company Spyker.

That is the insistence of team boss Colin Kolles, after the outfit hit the headlines over the Monaco grand prix weekend when it emerged that Spyker Cars had mortgaged its very name as part of a credit agreement with a bank.

But Kolles said: "Spyker formula one is financed through its own consortium of investors, partners and suppliers and we are not reliant on input from the road car division.

"Observers should not be predicting the fall of the F1 team any time soon," he added.

The Silverstone-based team was founded as Jordan Grand Prix in the early 90s, before selling to the Midland Group at the end of 2004.

A consortium led by Spyker Cars' interim CEO Michiel Mol took over last year.