MAY 30, 2006
The future of MF1
The future of the MF1 Racing team was in discussion at Monaco with a group of Dutch investors and bankers bidding to buy the team. Team boss Alex Shnaider has said on numerous occasions that he does not want to sell the team but his Midland partner Eduard Shifrin is less convinced about the value of F1 and may decide that he wants the company to offload the racing operation.
The logic behind Midland's involvement in F1 has always seemed strange as there is no obvious logic in a steel group being involved in the racing business. Sales of Midland steel are unlikely to be much affected by success or failure in F1.
Having said that Shnaider says that his involvement in the sport is more to do with his passion for racing than any business goal. That is terrific but if his partner does not share the passion it makes funding a problem.
If Shnaider is able to convince Shifrin to stay involved in F1, the team may start to move forward, if not it is always possible that Shnaider himself could buy out his partner and run the team in his own right. If nothing else that would certainly prove his passion for the sport.
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