Vijay Mallya has stepped down from his role as director of the Sahara Force India F1 Team but will stay on as their team principal.
Mallya brought the Spyker F1 Team in 2007, remaining in to Force India the following year to become India’s first ever Formula 1 team.
Now, Mallya is currently fighting legal issues relating to extradition to India where he faces prosecution on charges of fraud and money laundering.
A report by Companies House confirms over Mallya’s termination of a directors role within the Silverstone based team.
His son, Siddharth Mallya is expected to replace his father’s role as a director for the F1 team. Siddharth is a well known actor and media personality within his home country of India, as well as working as a director for the Royal Challengers Bangalore IPL cricket team.
Speaking to Motorsport.com, Mallya says that he will stay on as team prinicpal and that he want to focus on his legal issues.
“I continue as team principal,” said Mallya. “There was no compulsion anywhere to resign, it’s just that I decided that my son should replace me.
“I have my own legal issues to take care of. So it’s better that the company remains unaffected.”
Force India were expected to change their name this season to globalise the team more and attract new sponsors, but ahead of the 2018 season stuck with their name.
Mallya has also downplayed rumours over the team being sold to an new investor.
“Rumours keep going on and on and on, and people talk and talk and talk. That’s what the F1 paddock is all about.” Mallya continued.
“The finances of Force India, whether I’m selling or not selling, has been a matter of speculation on and off for many years.
“We don’t go around with a for ‘sale sign.’ The bottom line is that we are focussing on getting the best performance out of the car, and that is our priority. We’re focussing on getting more sponsors.
“There are three shareholders, remember, I’m not the only one. If somebody comes along with a serious offer, and puts cash on the table, we will jointly consider it.”
Force India currently lies sixth in the constructors championship after a mixed start to the season where Sergio Perez scored a podium at the 2018 Azerbaijan Grand Prix.