http://www.spykercars.com/download/investor/Microsoft_PowerPoint_-_Presentatie_Bava_27-09-2006.website.def.ppt.pdf In case anyone was wondering, the above link is to the presentation Victor Muller gave the shareholders of Spyker Cars to apporove the purchase of MF1. Makes for some interesting reading and brings up a few good points. ********* The one thing that caught my attention is the method of payment to the Russian principals involved and the source for the funds... Working capital is to be provided to ABN AMRO... to the tune of $18 million. ABN AMRO is the same bank that has been in talks with Renault for a sposorship deal. Also ING bank has been in talks with Renault. *********
Mubadala Development Company owns 5% of Ferrari and 17% of Spyker Mubadala Development Company is a wholly owned investment vehicle of the Government of the Emirate of Abu Dhabi, in the United Arab Emirates. http://www.mubadala.ae/en/index.asp Some of their other key investments, including Ferrari and Spyker: http://www.mubadala.ae/en/content/key_investments.asp
Actually interesting reading, thanks for the post. I hope the Dutch Group does more with this team than the Russian Industrialist ever did.
i think the FIA should ask them to repaint their F1 cars. that orange looks red to me on tv. many times i thought it was MS slowing down in China. turns out to be a Spyker. even Martin Brundle get confused a few times.
Mubadala Development Company owns: 25% of LeasePlan Corporation and 5% of Ferrari and 17% of Spyker LeasePlan Corporation just signed a big sponsorship deal with Spyker! http://www.spykercars.com/?pag=50&nid=207 ******* Spyker MF1 Team is pleased to announce the arrival of LeasePlan as an Official Sponsor for the 2007 Formula 1 World Championship and beyond. As part of the same 3-year partnership LeasePlan will also become an Official Supplier to the Spyker MF1 Team. *******
They will ! The Dutch group will writing the entire effort off on their taxes against real business (non-F1) income. The Russians didn't need to go this far with the team since they never paid the Russian government any taxes It's quite sad and Eddie Jordan must sometimes wonder what happened to all his hard work. Someday this outfit may grow up to be a "real" F1 team.
I'm just thrilled to see six Ferrari powered F1 cars on the grid next year. Is that a F1 first? I believe it is, but not sure about the fifties.
I do not think it will end there. I have a feeling that Spyker may become a Dutch based subsidiary of Ferrari... An article from www.grandprix.com : ***** Spyker and Ferrari As we reported a fortnight ago, the news that Spyker is negotiating for Ferrari engines for the Midland F1 team in 2007 should not come as a surprise. Although Spyker has yet to complete the purchase of the team, the Dutch car firm will be looking to Ferrari for the simple reason that one of its shareholders also holds shares in Ferrari. Ten months ago Abu Dhabi's Mubadala Development Company announced a strategic alliance with Spyker, acquiring 17% of the business and injecting new capital into the business. Mubadala owns five percent of Ferrari and is involved in a partnership with the Italian sports car company to develop a Ferrari theme park in Abu Dhabi. With such connections and F1 rule changes coming in 2008 to allow teams to build complete cars for other competitors, it is quite possible that Spyker might become a secondary Ferrari team. There is, indeed, potential for Ferrari and Spyker to become more and more closley linked in the longer term as Ferrari is now selling all the cars it can make and would benefit from controlling a second brand. Sharing technology and pushing up production gradually to Ferrari levels could provide a major new source of revenue for the Italians operation without having to go into the riskier Porsche-Maserati-Aston Martin segment of the market. ****** I think some people at Ferrari have some serious issues to sort out to make sure the Dutch brand does not dilute the image of the Prancing Horse!
Very interesting article, thanks! That's all fantastic news. The theme park and Spyker becoming a real B team to Ferrari. I love to see that happening. Regarding the dilution: There are always people worrying about that. Happened back in 69 when Fiat took over. Happened when they used Fiat Dinos to homologate the Dino engine. Happened when they worked with Lanci and later with Maserati. Now it is Spyker, nothing new really and not to worry.
Just one small difference... the others were not racing teams. Spyker is now competition in F1 racing for Ferrari. Two motorsport based brands under the same umbrella looks like trouble to me. What I do not like is that Spyker do not manufacture their own cars... the cars are manufactured by: Wilhelm Karmann Company http://www.karmann.com/ Karmann also provide auto services to a whole variety of street and race competitors of Ferrari. Something just does not fit right over here!
