Midland on the verge of selling F1 team

Michiel Mol, who founded the Dutch Internet firm Lost Boys, has made an offer worth more than 100 million Euro to buy the team from Shnaider. The Dutchman is already closely involved with Midland through his backing of Christijan Albers.

Talks between Mol and Shnaider initially took place after the Spanish Grand Prix, and continued in Monaco last weekend where the offer to buy the team was lodged.

Shnaider has spent the time since then deliberating about whether to accept the offer and, although no final decision has been made, the indications are that he is likely to accept it.

An announcement could be made as soon as next weekend's British Grand Prix.

Midland spokesman Ron Fine told autosport.com that although Shnaider was keen to remain in F1, the size of the offer for the team was something that could not simply be overlooked.

"Alex has not come to a decision yet," said Fine. "Nothing is final and there is no conclusion, but if this was purely a business decision he would have sold already. Alex has an emotional attachment to the team. He wants to see the team achieve its goals.

"However, the offer would allow Alex to make a significant return on his investment and leave the team in good hands. These investors have a passion for F1 and they love the sport.

"Alex sees the potential of MF1 and the team have been improving all the time. If the offer had not been made then he would not be considering selling."

News of the possible Dutch takeover comes after months of speculation suggesting that Shnaider was looking to offload the team, even though he remained adamant that he was in F1 for the long-term.

Shnaider told Autosport recently that his involvement in Formula One was not based purely on financial reasons - but because he had a passion for the sport.

"We don't have to be in F1," he said. "But we're in because we want to be. I love the sport, so in a way I am indulging my passion. I can tell you now that I am not making any money out of it. I don't see how it is possible"

The news of the Dutch interest comes at the same time that Midland have begun a recruitment drive for staff to help with their new wind tunnel.

A full-page advert in this week's Autosport has positions available for senior aerodynamicists, aerodynamicists, wind tunnel engineers, model makes and other support staff.