Spyker deny financial problems

One story doing the rounds last weekend in Monte Carlo was the fact that Spyker Cars has mortgaged its own name to Friesland Bank as part of an ongoing credit agreement. Team Principal Colin Kolles denies that this is an issue for the Formula One team.

"The Formula One team’s security is not based on the profits, losses or financial security of Spyker Cars NV in any way," said Kolles. "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."

"We have the full support of Spyker Cars and likewise we take a more than active interest in their success, but observers should not be predicting the fall of the F1 team any time soon. We have set goals and objectives and we will not be happy until we achieve them."

Meanwhile the team are getting ready for the reintroduction into service of the Brackley wind tunnel.

“The wind tunnel will switch on in the next week or so and then the commissioning process will start soon after," Kolles continued. “By the end of June it will be up and running and within a couple of months of that will go to 24 hour running, which will be a big boost for the team."

“It might have taken a little bit longer than expected to get the modifications through, but certainly once we’ve got it up and running it will have a big influence on our performance next year as it is where biggest gains will be found." Spyker