Midland consider $128m sale offer
(GMM) Alex Shnaider's home grand prix in Canada came and went without him announcing the sale of his 'MF1' formula one team.
Although team sponsor 'Lost Boys' anticipated an outcome to its $130 million offer to buy the former Jordan squad, Midland spokesman Ron Fine suggested that Shnaider's delay in making a decision is probably indicative of the outcome.
He said: ''The longer it goes on the less likely it seems that something will happen.
''There will not be a decision this weekend or next weekend at Indianapolis,'' Fine confirmed.
However, such is the clear profit billionaire Shnaider stands to make after buying the team from Eddie Jordan for $60 million, Fine suggested that – in terms of mere business – the decision to sell is 'almost a no-brainer'.
''(But) on the other hand … it's not about business anymore,'' said the spokesman. ''It's about achieving his goals, fulfilling his passion (and) Alex is really torn.''
06/12/06 We are upgrading this rumor to 'fact' today. AutoRacing1.com has learned that the sale of the Midland team will be announced sometime after the Canadian Grand Prix.
06/10/06 (GMM) The sale of Alex Shnaider's 'MF1' team could be announced at the upcoming Canadian grand prix.
A spokesman for the Russian-Canadian owner's Silverstone-based squad said Shnaider would likely attend the Montreal race.
''The wheels are still in motion,'' Ron Fine answered when asked about Dutch sponsor Lost Boys' widely reported $100 million offer, ''but there is no decision yet.''
He told the Toronto Sun: ''Alex will attend the Canadian grand prix and may make an announcement there.''
The Midland team's spokesman insisted that a 'condition' of the possible sale to billionaire Michiel Mol would be that he take 'as good or better care' of the existing team
05/29/06 (GMM) Midland's Alex Shnaider is now weighing up a solid offer to sell his formula one team, according to reports in Holland.
Dutch publication 'Formule 1 RaceReport' claims that Michiel Mol – of Christijan Albers' sponsor Lost Boys – met with Russian-born Shnaider at Monaco, where the $128m offer was reportedly made aboard the 'Midlandia' yacht.
''It is an interesting offer,'' Shnaider is quoted as saying, ''but in my heart I am not yet ready to sell.
''Sometimes I wish I would never have received this offer!''
Lost Boys' Mol is understood to have granted Shnaider some time to consider the offer.
He revealed: ''(Shnaider) told me that he does not want to make a rushed decision.''