premium
premium
premium

Force India secure future with rescue deal, Mallya's reign ends

Aug 08,2018

Commenting on the deal, Force India Chief Operations Officer Otmar Szafnauer said: "This outcome secures the future of the Force India team in Formula 1 and will allow our team of racers to compete to our full potential."

"I am delighted that we have the support of a consortium of investors who believe in us as a team and who see the considerable business potential that Force India has within F1 now and in the future."

He also acknowledged Mallya's contribution in the success of the team.

"At Force India, our expertise and commitment has meant that we have always punched above our weight and this new investment ensures that we have a bright future ahead of us. I also would like to thank Vijay, the Sahara Group and the Mol family for all of their support and taking the team as far as their circumstances would allow," added Szafnauer.

Mallya and Sahara had a 42.5 per cent stake each in Force India while Mol Family owned 15 per cent. India is currently seeking Mallya's extradition from the UK over unpaid loans linked to his defunct Kingfisher Airlines. Since their first season in 2008, Force India have gone on to become a strong midfield team, finishing fourth in the past two seasons.


Source : Asian Age

About Author

Write a Comment

Read Article
Demo Settings
Color OptionsColor schemes
Main Color Scheme     
Links Color     
Rating Stars Color     
BackgroundBackgorund textures
Background Texture          
Background Color     
Change WidthBoxed or Full-Width
Switch Page WidthFull-WidthBoxed-Width