TVR owner Nikolai Smolenski recently gave an interview to Swiss magazine Automobil Review last week in which he said that the buy-back of Blackpool Automotive after it has been placed into administration was a way of cutting his losses. In other words, he reacquired the company shorn of its debts.
He also said that he retains ownership but the contract with the two US businessmen, Adam Burdette and Jean Michel Santacreu, for which they paid £10 million, contains a management buy-out clause that includes a profit for him. Until cash starts to flow, he remains in charge and will concentrate on finance and contractual matters.
He said he could understand why people who worked there were angry with him but pointed out that he's lost the most money.
For the future, Smolenski opened up the possibility of production remaining in the UK. He said that Lotus had expressed interest but that Bertone was a possibility.
His plans for the cars remain unchanged. As well as retaining the Speed Six-powered Tuscan and Sagaris, a new supercharged Speed Twelve is due in 2009 - and is aimed at the Bugatti Veyron.