Following extensive discussions over the past 24 hours, the Force India Formula One Team has agreed to release Giancarlo Fisichella from his contract to join the Scuderia Ferrari Marlboro team for the remainder of the 2009 season, starting with immediate effect.

Dr Vijay Mallya, chairman and team principal, commented, ‘Giancarlo and his management team approached me yesterday with the proposal from Ferrari. For any Italian driver, a Ferrari race seat is a long-held dream and for Giancarlo it was no exception. No one should stand in the way of this. Furthermore the agreement will secure Giancarlo’s long-term future with Ferrari and it would be incorrect to jeopardise this, particularly when Giancarlo has made such a vital contribution to Force India.

‘We would like to stress that we have not agreed any financial settlement with Ferrari. This agreement has been made in good faith and for the good of Giancarlo and the sport in general. A competitive Italian driver in a Ferrari for Monza is a positive story for Formula One, which can only help raise the sport’s profile in these difficult times.

‘We would like to thank Giancarlo for all his help over the past one and a half seasons and for delivering us our first World Championship points last weekend. He has been an integral part of the team and we owe him a great deal for his input behind the scenes and performance out on track. We wish him all the best for the future.

‘For Force India, this sport is a team effort and removing one part, even a major one, will not significantly affect our performance. The competitiveness of the team seen in Belgium was a result of hard work in the factory and wind tunnel and we have further developments coming for the final races, so we are confident this momentum can be sustained. We are now looking forward to a strong finish to the season.’

Giancarlo commented, ‘I am very grateful to Vijay Mallya for allowing me this opportunity to drive for the Scuderia Ferrari Marlboro team. It is true that it has always been an ambition to do this, and for Vijay to have allowed it to become a reality is very generous. I hope in my turn I have helped Force India grow up and be on the right path to achieve their own ambitions. They are now a very competitive team and I wish them all the very best.’

A decision regarding the driver of car number 21 will be made in the coming days and no further comment will be made on this front.