Spyker pleased to be out of F1

Spyker noseconeVictor Muller, the CEO of sports car maker Spyker, has admitted he is relieved to have sold off the Formula 1 arm of the company to Force India.

Spyker did not spend much time in the F1 arena, and much of their time on the grid was overshadowed by rumours of financial problems.

“Formula One turned out to be a massive bleeder losing two million euros a month because some sponsors did not pay,” Muller explained. “This drained our production capital.”

Spyker has now been taken over by Indian businessman Vijay Mallya and has been renamed Force India. The team s budget is reported to be around $50 million, a much higher figure than Spyker ever had to work wirth.