Spyker sold for 88 million Euros

[EDwardo]

About $120 million.

Bought by Watson Ltd owned by Indian businessman Vijay Mallya and Strongwind consortium, owned by Spyker director of Formula One, Michiel Mol.

http://f1.gpupdate.net/en/news/2007/09/29/spyker-team-sold-for-88million-euros/

[jonovision_man]

They got a really good deal... must have taken on some debt as part of the transaction.

jono

[EDwardo]

It was reported September 2 that the original bid was for $109 million and that the F1 team had a current loss of about $18 million.

http://economictimes.indiatimes.com/News/News_By_Industry/Media__Entertainment_/Entertainment/Vijay_Mallya_bids_for_Formula_One_Team/rssarticleshow/2330163.cms

[pchall]

I wonder if the new owners are stuck with the Ferrari engine deal? The car company loaded that onto the F1 program trying to buy some panache for under the hood of future production cars.

[Andrew Longman]

Well that didn't last long.

Isn't one of the most valuable assets an F1 team has the "franshise" or whatever they call it paid to Bernie to be allowed to compete in F1?

If so, what happened to the Arrows and Prost franchises? Wouldn't someone want those?

[emjaya]

Well that didn't last long.

Isn't one of the most valuable assets an F1 team has the "franshise" or whatever they call it paid to Bernie to be allowed to compete in F1?

If so, what happened to the Arrows and Prost franchises? Wouldn't someone want those?

From Wikipedia.


A consortium fronted by Phoenix Finance — run by Charles Nickerson, a friend of Arrows' Tom Walkinshaw — purchased the team's (Prost) assets, believing that together with their purchase of old Arrows assets, specifically the engines, it would gain them entrance for the 2003 season. Unfortunately, they were barred from running by the FIA.

[RichK]

It's awesome to see some real racers get into the sport!!! :gomer: