The team's management, backed by a consortium of investors led by Canadian billionaire Lawrence Stroll who is the father of Williams F1 driver Lance Stroll, with the assistance of Force India’s chief operations officer Otmar Szafnauer and the team's senior management; have secured the future of the team.
Force India was placed in administration on the eve of last weekends Hungarian Grand Prix. With debts around £33 million mark, which includes owning money to both Mercedes and Force India driver Sergio Perez.
The new set-up, which signed an exclusivity agreement on Tuesday, takes over ownership of the team from Vijay Mallya and Subrata Roy.
Overall good news for the team, and mainly for the staff at this moment of time. With their futures secured the team is currently sixth in the Constructors’ standings, seven points behind Haas and twenty-three points behind fourth-placed Renault, so there is still a change the team could retain fourth in the Constructors’ if they have a strong second half of the season.
With the news consortium of investors led by Lawrence Stroll bought the team, don't be surprise that his son Lance Stroll will be joining the team next season as one of their drivers.
At the end of the day, Force India are out of administration and back racing.
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