Midland F1 Racing competed in the 2006 season with newly-signed driver Christijan Albers and Monteiro. Owned by Russian-Canadian businessman and owner of the Midland Group, Alex Shnaider, the team was registered as the first Russian F1 team, however continued to run out of its Silverstone base.

The 2006 season was encouraging for Midland as the team went from running ahead of Super Aguri but behind everyone else, to consistently sparring with other midfield teams such as Red Bull Racing and Toro Rosso. The team also went from being around four seconds off the pace per lap in 2005 to around two seconds per lap at the time of its sale to Spyker Cars in September 2006

The two Midland-owned years were however tough for the team, with a podium finish for Monteiro in the 2004 US Grand Prix a lonely highlight. The team was sold to Spyker Cars N.V. and raced for the final three Grands Prix of the 2006 season under the official name Spyker MF1 Racing. From 2007 onwards, the team competed as Spyker F1.