Spyker, Dutch Supercar Maker, Rumored in Financial Hot Water (Update on F1 team)
08-30-07, 08:02 AM
#1
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Spyker, Dutch Supercar Maker, Rumored in Financial Hot Water (Update on F1 team)
Dutch specialist Spyker, maker of such sports-car classics as the C12 Zagato (pictured), is rumored to be in financial hot water.
ZEEWOLDE, The Netherlands — The financial recovery company Bos Incasso would like to see super-sports-car maker Spyker in court. According to the Dutch AD news service, there's a dispute revolving around some $465,000.
The news report says a Swiss company and a private individual are each looking to claim money owed them by Spyker and have turned to Bos Incasso for help. The recovery firm has refused comment.
Victor Müller, the mastermind behind the resurrection of Spyker in 2000, stepped down as CEO in May. He acknowledged that the company has an ongoing dispute with Zürich Financial Services, but wouldn't go into further details.
What this means to you: Maybe Spyker is in trouble; court documents should be interesting in the coming weeks and months.
The news report says a Swiss company and a private individual are each looking to claim money owed them by Spyker and have turned to Bos Incasso for help. The recovery firm has refused comment.
Victor Müller, the mastermind behind the resurrection of Spyker in 2000, stepped down as CEO in May. He acknowledged that the company has an ongoing dispute with Zürich Financial Services, but wouldn't go into further details.
What this means to you: Maybe Spyker is in trouble; court documents should be interesting in the coming weeks and months.
08-30-07, 03:52 PM
#3
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09-05-07, 08:21 AM
#6
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Indian Mogul Makes Bid for Troubled Dutch Spyker Racing Team
Funny you should mention that Mike...
Source: http://www.edmunds.com/insideline/do...ticleId=122477
MUMBAI, India — Vijay Mallya is an Indian billionaire with interests in brewing, airlines and soccer. He's also actively involved in politics. His latest project is to bring Formula 1 to India. Now he's one step closer to fulfilling his ambition: Over the weekend he announced his intention to take over the Spyker Formula 1 team.
It's oddly reminiscent of the early years of the 20th century, when Indian maharajahs would order lavishly equipped coach-built cars that effectively kept afloat such companies as Rolls-Royce and Delahaye. Mallya's decision to make a more than $108 million bid for Team Spyker — and use it to create Team India — could help the sports-car arm of the Dutch company to survive.
In late 2006 Victor Mueller, the ambitious CEO of Spyker, decided to take over Alex Shnaider's Midland Group team, and the rest is not great history: The Spyker Formula 1 team is currently sitting in last place, with zero points. Meanwhile, the Spyker group lost some $40.6 million during the first half of 2007.
What this means to you: It's a win-win deal in which Spyker will survive and India will get a Formula 1 team and maybe a race as well.
It's oddly reminiscent of the early years of the 20th century, when Indian maharajahs would order lavishly equipped coach-built cars that effectively kept afloat such companies as Rolls-Royce and Delahaye. Mallya's decision to make a more than $108 million bid for Team Spyker — and use it to create Team India — could help the sports-car arm of the Dutch company to survive.
In late 2006 Victor Mueller, the ambitious CEO of Spyker, decided to take over Alex Shnaider's Midland Group team, and the rest is not great history: The Spyker Formula 1 team is currently sitting in last place, with zero points. Meanwhile, the Spyker group lost some $40.6 million during the first half of 2007.
What this means to you: It's a win-win deal in which Spyker will survive and India will get a Formula 1 team and maybe a race as well.
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09-05-07, 02:35 PM
#9
Lexus Fanatic
1st of all, the incasso hasn't taken Spyker to court. The AD newspaper published this and had to withdraw it the same day.
They did it after Spyker lost 12 million euro's in value on the market after this news hit.
2nd of all, the F1 team still hasn't been sold. The people interested in the F1 team are the before mentioned Mr Mallya and the Mol family.
The Mol family is allready part owner of Spyker cars and financed part of the F1 team when Spyker bought it last year.
So you can say it's a Dutch/Indian consortium that may buy the F1 team.
Spyker cars is in financial trouble though, I hope with selling the F1 team they can pull though.
They did it after Spyker lost 12 million euro's in value on the market after this news hit.
2nd of all, the F1 team still hasn't been sold. The people interested in the F1 team are the before mentioned Mr Mallya and the Mol family.
The Mol family is allready part owner of Spyker cars and financed part of the F1 team when Spyker bought it last year.
So you can say it's a Dutch/Indian consortium that may buy the F1 team.
Spyker cars is in financial trouble though, I hope with selling the F1 team they can pull though.