Formula 1 team Force India may on Monday (today) announce a controlled bankruptcy after the German Grand Prix. Speculation is rife about the ownership change of the Sahara India- and Vijay Mallya-owned Formula 1 team.
Uncertainty prevails about the fate of Force India. The debt-ridden team may see an ownership change in the middle of the season. There is mounting speculation that Force India will register a controlled bankruptcy on Monday after the German GP (23.7.2018), German motorsport news website “Auto Motor und Sport” has reported. The “control bankruptcy” exercise would mean the team will stay, but the ownership will change. This will also give Force India creditors a chance to recover their money.
The fate of Force India is the key in the drivers’ transfer market. If the Silverstone-based racing team falls into the hands of Lawrence Stroll, it could come to the big chairs back. An undisclosed American businessman, a New York-based investment fund, principal sponsor BWT and Lawrence Stroll are reported to be among the interested parties to take over Force India. Before it is decided who takes over Force India, tense calm prevails in the driver market. If Stroll strikes the Force India deal, his son Lance is expected to land at the team. Meanwhile, there may also be a reported leadership change at Ferrari. Speculations about the two teams – the uncertain fate of Force India and the change in leadership at Ferrari – have put the driver’s transfer market on a hold for now. Force India Formula One Team Limited is currently competing as Sahara Force India F1 Team on the Formula One circuit. The team based in Silverstone, United Kingdom, but operates with an Indian license. The team was formed in October 2007 when a consortium led by Indian businessman Vijay Mallya and Dutch businessman Michiel Mol bought the Spyker F1 team for €90 million.