It is no secret that the Sahara Force India F1 team is struggling for survival. This is actually surprising, given that they are the leading independent team on the grid.
Sources claim that this was brought about in the aftermath of the departure of founder Vijay Mallya.
However, the team insist that their team boss’ departure has no impact on the team. Instead, the day to day operations continue on under the management, as has always been done.
“Vijay’s decision is purely a personal one, but from a Force India point of view it really is business as usual,” said deputy boss Bob Fernley.
However sources have refuted that revelation. They say that that Formula 1 Management, controlled by Liberty Media, is “currently helping out with a loan”. Additionally, according to the report, Mallya stepped down “in return”.It also seems that there are “five buyers” who are shaping up to buy the embattled team. These sponsors include British energy drink Rich Energy, Mercedes and Force India title sponsor BWT.The Force India team have not had the best start to their 2018 F1 campaign but are steadily improving. On the subject of the buyout, the team has vehemently denied that Rich Energy is close to a deal. However, Rich Energy CEO William Storey had a different take on everything.Storey said: “In light of ill-informed media speculation and certain external moves to destabilise the team, I can confirm that Rich Energy made an official offer to buy Force India Formula 1 team at the end of April.“This offer was accepted in principle, and we are close to finalising purchase with SPA,” he added, referring to the sales and purchase agreement.
“We have deposited funds considerably in excess of the purchase price and will invest an additional eight-figure amount in the team.”
“We have a long-term business plan that not only involves our beverage brand but two multi-national corporate sponsors who are not currently in F1. We have found the shareholders to be excellent people with the team’s and employees’ best interests at heart.
“We aim to conclude a deal as soon as practicable and the lawyers approve.”