Formula One In October 2004, the Midland Group announced its intention to enter
Formula One motor racing in 2006, with plans to use a car built by the Italian manufacturer
Dallara. In January 2005 the group changed plans by purchasing the
Jordan Grand Prix team from
Eddie Jordan for approximately US$50 million. They kept the yellow-liveried EJ15 cars and declared 2005 to be a year of learning. Under the name
Midland F1 Racing, the team made its debut with a brand-new car and livery at the start of the
2006 Formula One season. With this team, Shnaider declared his intention to bring the first Russian driver into the sport, a feat not achieved until
Vitaly Petrov's entrance into F1 with
Renault, three years after Schnaider sold the team. On 9 September 2006, the team was sold to
Spyker Cars for $106.6 million. In 2007, the team competed as
Spyker F1, and in 2008 was sold to Indian businessman
Vijay Mallya and was renamed
Force India F1. From the beginning of the 2008 season, the team became known as
Force India and remained active until 2018, when a group of consortium led by
Lawrence Stroll bought the assets of the former team in 2018 following a financial collapse that forced Force India to be put under administration. From 2018 to 2020 the new team competed under the
Racing Point banner. In 2021 the team was rebranded as
Aston Martin. == References ==