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Force India pay off creditors in only two months

Force India pay off creditors in only two months

Racing Point

Force India have revealed that they have paid off their creditors just two months after the sale of the team to a consortium of investors led by Lance Stroll’s father, Lawrence Stroll. The Canadian businessman did not wait for legal orders to do so.

“We’re going through all of them, just as they come up, so probably 100% or if not 95% of them will be paid by the middle of October,” said Force India team principal, Otmar Szafnauer.

“That’s not usually what happens in administration, and it’s something that we should take note of. It takes that worry completely away.”

Force India
The Strolls gave Force India a lifeline

The new Force India head honcho also disclosed that the billionaire put in extra money to ensure the creditors were not kept waiting.¬†“It’s important to note that the current shareholders have taken all the risk for the creditors, and have put it in extra money,” he said

“So the creditors have been paid off immediately, and not at some future date, post-administration.¬†Lawrence wanted to do what’s right by the suppliers that have supported us, and a lot of them are industry suppliers who don’t just supply us, but other teams in the paddock.”

“And he thought it was right to take care of those people, by guaranteeing that they get 100% of their debt, and in a timely fashion.”¬†Post this take-over, Lance Stroll is heavily rumoured to join Force India for 2019.

Force India
Stroll’s Force India move may showcase his real pace

Force India looked to be in dire straits just a couple of months back, as they ran out of money and could not develop their car. They were later stripped off their points as they were changed to a new entity and their internal turmoil only added salt to the wounds.

However, all that changed when Stroll quickly gathered investors and bought out the team, and they delivered on their first race post the take over, when Perez and Ocon secured third and fourth in qualifying in Belgium in variable conditions.

They have also added enough points to move off the bottom of the constructors’ championships and are challenging the likes of McLaren and Haas for points.

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