Alex Shnaider

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Alex Shnaider (born 1969) is a Russian-born Canadian Jewish businessman and billionaire. He is co-founder with Eduard Shifrin of the Midland Group.

He was named Chairman of Royal Laser Corp. in May 2006 (www.royallaser.com)

[edit] Formula One

Shnaider bought Jordan Grand Prix from Eddie Jordan in mid 2005 for $60 million, and renamed it Midland F1 Racing for the 2006 Formula One season.

Shnaider was originally going to start the team from scratch, however he purchased Jordan Grand Prix to guarantee his entry into the Formula One world championship without having to pay the bond that otherwise would have been necessary. Almost after buying the team, it was rumoured that Schnaider was unhappy with his purchase. For the 2005 Formula One season season very little development work was done on the cars, while a technical partnership for 2006 with Dallara failed, as did a plan to set-up a Midland Formula Three team to develop young Russian drivers

On 9 September 2006, it was revealed that the team was sold to Spyker Cars.^[1] Spyker paid $106.6 million for the team. On 10 September ITV commentators said that Shnaider was no longer involved in the team since the announcement of the sale.

[edit] References

[edit] External links

• Midland Group
• Billionaires:Man of Steel (Forbes)
• Billionaire businessman key supporter of Russian community (Canadian Jewish News)
• Steeled for success (LifeStyles magazine)
• Fast Money (AutoNet.ca)
• Russian-Born Canadian Buys F1 Team (Moscow Times)
• Midlandia Photo of Shnaider's megayacht at the Monaco GP