Spyker CEO regrets F1 adventure
22nd Febuary 2008
The CEO of Dutch low volume sportscar manufacturer Spyker has expressed his regret that the company became involved in Formula One when it bought the Silverstone, UK based Midland F1 team in 2006 and revealed that losses associated with the F1 project threatened its existence.
Spyker CEO Victor Muller told Automotive News Europe, “Formula one turned out to be a massive bleeder, losing two million euros a month because some sponsors did not pay. This drained our production capital.”