Highlights
Spyker agree engine deal with Ferrari
(Reuters)
Updated: 2006-09-30 15:01
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"This announcement completes the first chapter of Spyker MF1 team and I believe truly illustrates our commitment and ambition," the team's director of F1 Racing Michiel Mol said in a statement at the Chinese Grand Prix on Saturday.
"We are in F1 to be competitive."
Spyker bought the Midland team, who competed last year as Jordan and have Toyota engines at present, earlier this month and will race under the name of Spyker F1 next season.
The takeover was approved by shareholders of the Dutch luxury sportscar maker on Thursday.
Ferrari, winners of 14 constructors' titles since 1950, also have a contract to supply Red Bull in 2007, although it remains to be seen which of the two teams owned by the Austrian energy drink company will get them.
Red Bull have agreed a deal with champions Renault and want to use those engines for Red Bull Racing, with Italy-based junior team Toro Rosso switching from Cosworth V10s to the Ferrari V8s.
Spyker's decision to use Ferrari power leaves privately-owned Cosworth without a Formula One partner, with Williams powered by Toyota engines next season.