Colin Kolles insists Spyker's Formula 1 operation will not be affected by recent reports in the media that Spyker Cars NV is currently in the midst of financial turmoil.

Spyker confirmed last week that the niche sportscar brand was having to integrate a refinance package to support its borrowing requirements, with an unnamed bank offering an extended credit line and a substantial loan has also been provided by a shareholder.

Having been born out of the shortlived Midland F1 squad, Dutch manufacturer Spyker acquired the team last September and are currently embarking on their first full season.

Nonetheless, despite worries for the company itself, Kolles has distanced the Formula 1 operation from the rumours, claiming the two are financed in different ways and that cynics who are plotting the team's demise should not be so quick to dismiss the team.

"The Formula 1 team's security is not based on the profits, losses or financial security of Spyker Cars NV in any way. 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."



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