Renault looking to buy stake in Force India?

Considering Renault’s doubtful future in the sport, the AUTOSPORT reports that the French outfit held talks with Force India for the possibility of acquiring a majority stake in the team.

Currently the engine supplier of Red Bull and the Toro Rosso, Renault’s future in the sport is extremely doubtful, considering both the teams will opt for an early contract breakdown with Renault, with Red Bull rumoured to go to Mercedes Power Units and Toro Rosso to Honda Power Units.

The Renault Power Unit has suffered a huge blow since the turbo engine era, especially this year with both reliability and power. Red Bull has grown largely impatient with the same and openly criticised the team claiming that they are looking for other options for 2016.

If Renault decides to come back into the sport as a prime team, it is rumoured to look to Renault for the same. But Force India team principal, Vijay Mallya told AUTOSPORT that he indeed met with their consultant, Alain Prost on Saturday night in Belgium.

“Yesterday was a conversation from their side to update me on the fact no decision has been taken, they haven’t made a proposal about the board of Renault,” said Mallya.

“Secondly, he wanted to know how I would feel about shareholding. Would we be willing to consider being a minority. If so, what would be our aspirations.

“We didn’t talk about engine supply at all.

“We talked generally about their interest in about potentially becoming a constructor, that they are talking to multiple teams and about what is my vision and what is possible and not possible.

“They asked me: ‘Would you be prepared to part with a majority stake?’

“If I said no, maybe it would have been end of conversation.

“I said it has to be considered, in light of a potential offer, and secondly I asked what are the minority protection rights you offer?

“There is no deal on the table. They have not made a decision about their plans. It’s very preliminary.”

Force India’s shareholding is currently split between three parties – Mallya, the Sahara group and the Mol family, while Mallya must present an offer to the Board, he is confident they would consider his recommendation.

“I have a mandate to speak for all three,” he said. “But if there is a deal on the table, I have to discuss it with the board.

“I’m more than confident that they will follow my recommendation but we are a democratic organisation, which is properly managed and things at a certain level must be a board decision.”