 Soon after, Stephenson and his colleagues began to consider the possibility of using the Mangusta platform to develop a high-performance halo car to grow the MG brand.On February 28, 2001, Stephenson and his colleague Peter Beale began negotiations with Qvale Modena to purchase Mangusta production assets.A contract was drawn, and on June 19 of that year, the announcement was made that the deal was complete (with account reports indicating that the price was £7 million.)