Dutch car firm Spyker have confirmed they are involved in talks to acquire the Midland Formula One team.

Responding to mounting speculation of their involvement, the company issued a statement yesterday in conjunction with the M-Consortium, headed by Michiel Mol, founder of internet firm Lost Boys.

The statement said: “Spyker Cars NV and the M-Consortium confirm that currently negotiations are taking place with the owner of Midland F1 with respect to a possible acquisition by Spyker of the Midland F1 team.

“The outcome of the negotiations is still depending on a number of conditions and circumstances. In the event that such acquisition would materialise, Spyker will consider a share issue to (partially) finance the transaction. M-Consortium has expressed its willingness to subscribe to this issue for a large part.

“At the appropriate time further announcements will be made. In any event the acquisition will be subject to Spyker shareholders' and supervisory board approval.”

The move comes after a public admission earlier this summer by Midland’s owner Alex Shnaider he was in talks with Mol about a possible EUR100m sale of the team