Horrifying footage shows the moment British millionaire loses control of his £750,000 Porsche - Photos

This is the horrifying moment a British millionaire lost control of his £750,000 supercar and crashed into rally spectators - injuring more than 20 as he careened into the crowd lining the race track.

Paul Bailey, from the East Midlands, was behind the wheel of his Porsche Spyder when it clipped the grass at high speed along an unused airport taxiway in the Hal Farrug district of Malta.

Footage of the crash has now emerged, showing the car spinning out of control on the tarmac, before crashing through safety barriers and into a thick mass of spectators. 

With hundreds of people lining the sides of the track, unidentifiable pieces of debris can be seen flying into the air upon his impact with the crowd.

Moments later, Mr Bailey emerges from the vehicle appearing disoriented, while blood covers his face and clothes. He soon collapses to the ground where he is comforted by a woman believed to be his wife.

Amid the chaos, bodies can be seen lying across the ground and bystanders rushing to help pull the injured to safety. 

Witnesses described the 'chaos and screaming' as the car, which has a top speed of 210mph, skidded out of control, careening into the barriers and crowd. 

Five of the 26 people injured are believed to be in a critical condition, including a six-year-old girl and the 55-year-old driver.

A further nine suffered fractures or cuts requiring hospital treatment, officials said. 

According to Malta Today, Mr Bailey, a father of four, was taking part in the annual Paqpaqli ghall-Istrina motorshow when the crash happened at about 2pm.

An eyewitness told Times of Malta: 'The car was speeding down the taxiway when a back wheel went on the grass. 

'The car spun out of control, went through the barriers where a large crowd was watching, and into the area of the static car exhibition.

'Many people were hit, there was chaos and screams.' 

Video has also emerged of Mr Bailey driving the vehicle with a companion just minutes before the crash happened.

The rest of the show, which was held under the auspices of Malta's president to raise money for the needy, was cancelled.

Earlier this year it was revealed how the businessman was believed to be the first person in the world to own the 'Holy Trinity' of hypercars - with a combined worth of more than £3million.

He already owned the £866,000 McLaren P1 and in just one day added a Porsche 918 Spyder and the LaFerrari - tripling his hypercar collection in a matter of hours. 

The three vehicles, which all boast top speeds of more than 200mph, are all considered to be 'hypercars' - top-tier cars whose features, price and rarity sets them apart from 'regular' supercars. 

Mr and Mrs Bailey, whose home in Rutland is believed to be worth more than £1million, made their fortune when they sold the communications company they founded for £28million in 2012. 

It is understood that Mr Bailey, 55, boasts a collection of some 30 supercars.  

The Porsche 918 Spyder was one of the first super-hybrid supercars - using a combination of a 4.6-liter V-8 engine with a hybrid electric drive system that brings total output to 887 horsepower.

The battery of the plug-in hybrid can be fully charged in less than seven hours from a standard household socket - or in less than 30 minutes with the optional fast charger on an industrial circuit. 

At the time, he described his fleet of hypercars as 'totally amazing'.

He said: 'I have been waiting, in real terms, about two years for the LaFerrari. Early images of these cars were snapped and emotions rose as delivery dates came closer.

'I was offered one of the first five UK cars but these did not have the level of personalisation that I have had. This is the first UK car with full personalisation and it was worth the wait. 

'I live a very surreal life and being the first to own all three does not feel real. This is why I want to use and share the cars with enthusiasts.

'It is too early to say which is the best as they are all totally amazing. I will be able to better comment when I have driven them back to back on the race track.' see more photos below