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Should Shnaider Sell?

Should Shnaider Sell?

Alex Shnaider, owner of Midland F1It has again been reported that billionaire Alex Shnaider could be selling his Midland Formula One team. Rumours have dogged the team ever since it was bought from Eddie Jordan in January of last year.

Recently, Shnaider has denied these rumours, but has now said that a Dutch consortium has made him an offer that is “tempting”. Apparently, Michiel Mol (founder of the internet firm Lost Boys and backer of Christijan Albers) has offered the Canadian 100 million Euros for the outfit, which is putting Shnaider in a dilemma. According to Shnaider, he has “…invested more than just money in the team… I have invested my dreams” and that has put him in an agonising position.

I honestly wish I hadn’t received this offer.

Shnaider speaking to Toronto’s Globe & Mail Newspaper.

If I were to put money on it, I’d say he’ll be selling the F1 team to make a small profit. He apparently only spent $50 million on buying it in the first place!

Image courtesy of MetroNews and Tannis Toohey.

Oliver White

5 comments

  • I think he should sell it back to Eddie Jordan. The team had so much passion and enthusiasm for the sport. And even though they were at the back of the field, the yellow always made a striking difference to the grid.

  • K: I assume you mean “Daft title because the answer is so bleeding obvious”! 😉 I’m surprised you didn’t make fun of the cheesy photograph!

    Chris: Good idea. Eddie Jordan is willing to return to the sport as he attempted to get a 12th team in back in April. I think Shnaider is going to be looking to make a profit though, which won’t go down well with Eddie. Sell it for 50 million, buy it back for 100 million – that doesn’t make good business sense.

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