Saturday, 28 July 2018

Force India team goes into administration

It was confirmed yesterday (27/7/18), Force India have gone into administration ahead of a possible takeover, on the eve of this weekends Hungarian Grand Prix.



No further information about the future of the team has been released at this stage. While the team will not miss this weekends Hungarian Grand Prix.

Earlier on Friday, Force India admitted they faced a "critical period" as financial problems threatened the team.

At least three potential buyers are said to be in the wings considering a purchase of the Silverstone-based outfit.

Force India's problems arise from the legal issues of co-owner Vijay Mallya, who is fighting extradition to India on fraud charges, which he denies.

First of all, personally I very feel sorry for the drivers and the staff at the team at this moment of time, with a strong possibility that they may lose their jobs.

Secondly, the reason the team is in this state is both team owners Vijay Mallya and Subrata Roy (who is currently in prison in India) not selling early enough or investing enough. In-which Sergio Perez (owning Perez 4 million euros), Mercedes (owning Mercedes 10 million euros)and BWT (says sponsorship was loan which is a bizarre one to me) are owned money from the team themselves recently.

Meanwhile, team drivers Esteban Ocon is on the verge of securing a deal to move to Renault for next season as a replacement for Carlos Sainz, Jr. alongside Nico Hulkenberg. While Sergio Perez could move to Haas next season with sponsorship from Mexico.



Final thoughts is this, a team that finish fourth in Constructors Standings two years running with a budget that is less than three times what a top team can do have shows what this team can do if the budget and investment is there, pity that Mallya's and Sahara's troubles have put a lot of hard-working people in a quandary.

Let's hope Force India find new owners, who do have the money to compete in Formula 1.

No comments:

Post a Comment