Formula 1 racing team Force India is insolvent

Budapest (SID) The Formula 1 racing team Force India is insolvent and has been in controlled insolvency since Friday. As deputy team boss Robert Fernley explained on the sidelines of the Hungarian Grand Prix (Sunday, 15.10:XNUMX p.m./RTL), a court in London has appointed an administrator. The company FRP Advisory LLP now has the task of finding a buyer during the summer break of the premier class. Operations will continue as normal until then. Ironically, a demand for additional salary from regular pilot Sergio Perez (Mexico) amounting to around four million dollars ultimately triggered the bankruptcy. However, Perez says he did not act maliciously. “I was asked to do this by some team members in order to secure the team and thus 400 jobs,” said the 28-year-old on Saturday. Other creditors include engine partner Mercedes. Force India took an impressive fourth place in the team rankings in 2016 and 2017, leaving far behind economically better-positioned racing teams such as Renault and McLaren. There are numerous interested parties to take over the team from Indian Vijay Mallya. These include main sponsor BWT and Canadian billionaire Lawrence Stroll, father of Williams driver Lance Stroll. Russian businessman Dimitri Mazepin is also said to be interested. His son Nikita is currently driving in the GP3 series and is already a reserve driver for Force India.

Football

Italy

International leagues

International

Winter sports

Tennis

Other sports

Motorsport

Cycling

Watersports

Events

Favorites

Formula 1 racing team Force India is insolvent

The Formula 1 racing team Force India is insolvent and has been in controlled insolvency since Friday.

Suggestions

Comments (0)