Spyker F1 team principal Colin Kolles has moved to quell talk that the teams future could be in doubt following the announcement from Spyker Cars N.V that it could be looking to sell off some, or all, of the Silverstone based outfit.

With the company expecting to make a loss this year and with the short term liquidity of the Dutch manufacturer now tight, Spyker confirmed that it was looking to perform a refinancing operation to secure its long term future - with one possible scenario being the sale of part or all of the Formula 1 team

Indeed the addition of the team to Spyker's portfolio has played a large part in the need for funds to come in, with the initial costs of purchasing the team from the Midland Group having then been added to by the amount of money needing to be spent to make the current F8-VII more competitive.

That has led to talk in some quarters that the team could be in danger of closing, but Kolles denied that was the case.

"Spyker F1 Team Ltd is completely confident that it has the necessary budget to race in the FIA Formula One World Championship this season," he said. "There is no doubt that we will be racing with our current driver line-up of Adrian Sutil and Sakon Yamamoto in the Turkish Grand Prix and beyond.

"The recent press statement issued by Spyker Cars N.V should not be taken as an indication that the team is in jeopardy of immediate closure. As part of its own strategic review and refinancing strategy Spyker Cars N.V is considering the (partial) sale of the Spyker Formula One Team. This is however but one possibility.

"Should Spyker Cars N.V. ultimately decide to sell, its management will strive for the final decision to be in the best interests of the team, its employees and partners and that we have the means to achieve our goals that have been set in motion this season."

 

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