Midland F1 Racing

Midland F1 Racing (also known as MF1 Racing) was a Formula One constructor and racing team. It competed in the 2006 Formula One season with drivers Christijan Albers and Tiago Monteiro. The team was created by the renaming of Jordan Grand Prix after its purchase by Canadian businessman, and owner of the Midland Group, Alex Shnaider. The team was registered as the first Russian Formula One team, reflecting Shnaider's roots, although it continued to be based in the United Kingdom, at Jordan's Silverstone factory. Towards the end of the 2006 season, the team was sold to Spyker Cars N.V.; the team raced in its last three Grands Prix under the official name "Spyker MF1 Racing". In 2007, the team competed as Spyker F1, and in 2008 was sold to Indian businessman Vijay Mallya and was renamed Force India F1.

2005 purchase of Jordan

The Midland Group's interest in Formula One involvement began in 2004 when they confirmed plans to create a team to race in the 2006 season. Although they were initially linked with creating a new unit or purchasing Jaguar, the group instead signed a deal to buy the Jordan team from Eddie Jordan prior to the 2005 season, for a sum of $60 million. As a result, the team would be a legal continuation of Jordan and not a new entity subject to Formula One's $48 million entry bond. It also allowed Midland to claim the television revenue generated by Jordan's subsequent ninth place in the constructors' championship.