Honda F1 website

APRIL 7, 2007

Some interesting things about Spyker

The fact that Spyker is a listed company provides an interesting insight into the world of F1 as the company has to go through the elaborate process of proper financial reporting and must reveal all the details which other teams often seek to hide. Michiel Mol, the director of F1 operations, for example, is revealed as not being a shareholder in the company, although his father Jan Mol owns 29.87% of the business, but he is a shareholder in Christijan Albers BV, the management company of the driver. Another Spyker director Fred Mulder is also a shareholder in Albers but not in Spyker.

The annual accounts also reveal a number of warnings from the accountants about the need for more investment being needed in the business if it is to survive as they conclude that the current structure is not sufficient to generate the income needed. To some extent this is standard accountant talk but the point is nonetheless made.

It is worth noting that there was rumours in Holland that Spyker has major plans to build its own test track and factory although there is no indication how this would be funded.