Formula 1

Administrators Working on an ‘Urgent Basis’ to Secure Force India Future

1 Mins read
Sahara Force India F1 Team - Hungaroring
Credit: Octane Photographic Ltd

The joint administrators working with the Sahara Force India F1 Team say they are going to work urgently on finding a solution to the financial situation the Silverstone-based team find themselves in.

Geoff Rowley and James Baker of FRP Advisory LLP took responsibility for the future of the team after they went into administration on Friday night following a petition from Force India driver Sergio Pérez that has been supported by main sponsor BWT.

Rowley, who has previously aided the administration of the Marussia/Manor cases, says the team can continue to operate as normal as a buyer is found, with a number of interested parties said to be looking into taking over the reigns of the team from Vijay Mallya, who initially bought the Spyker F1 Team towards the end of 2007.

“We shall be engaging with key stakeholders on an urgent basis to secure the best outcome for creditors,” Rowley is quoted as saying by Motorsport.com“In the meantime, the team will continue to operate as normal, including racing in Hungary this weekend.

“Our  aim is for business as usual whilst we assess options to secure the future of the team.”

Amongst the interested parties apparently include Lawrence Stroll, father of current Williams Martini Racing’s Lance Stroll, although nothing has been confirmed to just who could take over the running of the team.

The team currently sit fifth in the Constructors’ Championship on fifty-nine points, twenty-one points behind the Renault Sport Formula One Team that sit in the fourth position they have occupied in the past two campaigns.

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