Shnaider frustrated by Midland rumours

The Silverstone-based team's difficult start to the season, and the recent departure of sporting director Adrian Burgess, prompted talk that the outfit were set for further shake-up with Shnaider looking to offload it.

But speaking to Canadian newspaper The Globe and Mail, Shnaider has denied that the team are for sale and hit back at claims that a lack of investment was leading to financial struggles.

"I wonder what their motivation is for spreading this bullshit, and why they never seem to grow tired of publishing the same lies, over and over again," said Shnaider about the media speculation.

"The fact is, despite the constant rumours, I have not sold the team and it continues to operate at a healthy level.

"It's lazy, irresponsible journalism, and in the end, the lies only serve to damage their own credibility. The media writing these rumours should go back and analyze everything they wrote about us last year and see whether anything they reported happened."

Shnaider has also rebutted talk that Racing Engineering boss Alfonso de Orleans could be set for a takeover of Midland after telling the Spanish media last week that he wanted talks with Shnaider over the future of the team.

"Yes, that one I find quite amusing, actually," said Shnaider about de Orleans' claims. "I spoke to this Spanish gentleman once, at last year's Turkish Grand Prix, because he wanted to introduce to me to someone who was interested in buying steel.

"But we never spoke about the sale of the team - not once. Correct me if I'm wrong, but if I was interested in buying a soccer club, wouldn't it make sense for me to speak to the owners of the team about it first, before going to the media?"

Shnaider insists that he will continue giving Midland the financial support that they need - and he claims that some of the team's difficulties over the past 12 months have been the result of 'baggage' left from the takeover of Jordan.

"I will continue investing in the team for as long as I'm passionate about competing in the sport and given that I've loved F1 since my childhood, I don't see that enthusiasm fading any time soon.

"It frustrates me when people say we're not investing in the team, because we've been investing non-stop since we bought it."

He added: "Certain people we brought to the team and certain people we inherited with the team were detrimental to MF1's development because they were following their own agendas instead of promoting the team's interests.

"Unfortunately, I can infer from the latest round of rumours that some of these people are still pursuing those agendas."

Despite his denials about a sale, Shnaider stands by his comments that he will be willing to sell the outfit if the right offer comes along.

"I made a comment to that effect last year and it keeps coming back to bite me, but I stand by what I said because it's common sense," he said.

"Even Ferrari could be sold tomorrow if someone would offer [parent company] Fiat enough money for it. The same is true for every team on the grid, without exception."