05/02/2005
NEWS STORY
Midland F1 and Jordan boss, Alex Shnaider has revealed that he is to employ a young Russian driver as test driver ahead of the new team's entry into F1 in 2006.
"We're planning to take an existing Russian driver, Roman Rusinov, to be one of Midland F1's test drivers this year," the Russian-born billionaire told the Toronto Star.
"Our car, the chassis, will be ready from Dallara at the end of the summer and he'll start testing that car," hre continued. "He might test the Jordan car before then but we haven't determined that yet."
Shnaider also revealed plans to discover other talented Russian youngsters: "We are planning to run a Midland Formula 3 team in the Euro series. We will take some young Russian drivers and develop them through Formula 3 and then, if they're worthy, take them up to Formula One."
Shnaider is the latest in a line of Russian entrepreneurs to get involved in sport, the most obvious example being Chelsea (football club) owner, Roman Abramovich. So why exactly is he entering F1, what's in it for him and his company?
"We are going to use Formula One to grow our business," he admitted. "Midland is uniquely positioned in eastern Europe, Russia, Serbia and other satellite Soviet republics. Many companies, the multinationals, want to enter the Russian market because of its growing middle class, its large population and growing economy. We are in a position to help a lot of those companies, to open doors for them.
"Formula One is a global sport," he continued, "and we are a global company and we would like other global companies to join us and go into markets where we are established.
"When we offer our car as a marketing tool, it could be a marketing tool for Western companies that want the Eastern market or for Eastern companies, like Russian companies, that want the Western market.
"We have all the exposure and all the marketing benefits that Formula One offers. We can also offer business-to-business opportunities that other racing teams are just not able to. They are racing teams. We are a business and that, basically, is our model."
Having bought Jordan, why not simply change the name?
"Before we change the name, we want to have our own car ready," he admitted. "The original plan was to start our own team. Bernie Ecclestone explained to me that it would be in our best interests financially to purchase the Jordan team, which we did. But we arranged for Dallara to design a new car, different from the Jordan. When it is ready, it really will be a new operation.
"Also, there is not much time. When you have to change the name, you have to do other things. You have to change the signs, you have to change everything. The season is going to start in March. The team is working flat out already to prepare the cars and get everything ready for international travel. There's not enough time left to do anything else.
His expectations for 2005?
"We just took over Jordan, so this will be a learning year for us," he replied. "We have to evaluate everything at Jordan and eliminate the weaknesses. Then, we will take what we have with Jordan, take what we have with Dallara, and try to produce a good car, a Midland car, for 2006.
"Every year, we will aim to make the car better and better. We will invest money. Obviously, we want to do well, we want to win. But we have to be realistic. We have to see what kind of budget we will be operating with.
"I always said the team would operate with an annual budget of approximately $100 million. It would not necessarily all come from Midland. If we take on partners, or sponsors, they will also put up some money to help with the budget.
"But what can we really do with $100 million a year? Some claim that we can do a lot and it's just a question of how you spend it. As long as you don't waste it on unnecessary things; and use the money in a prudent way, it's possible to achieve good results.
"I believe if we are in the midfield (in the beginning), it will be a good result for us. We don't have to be in the top four."
Currently, Jordan has an engine deal for one year, would Midland - with all its manufacturing connections - consider building its own?
"No. It would be too difficult and too expensive," he replies. "It costs $100 million to $150 million to build an engine, what is the point?
"Right now, we have a one-year contract, for 2005. We have been talking to a number of engine manufacturers and we have been getting proposals from them. Toyota is definitely a possibility and we are very happy with the current agreement."