Formula One: Mallya's Force India to get new owners
Formula One team Force India is expected to get new owners soon. The team, co-owned by Vijay Mallya, has been facing several problems post the collapse of Kingfisher Airlines. Team's Chief Operating Officer Otmar Szafnauer confirmed the same after Force India was listed for a Companies Court winding-up hearing, earlier this week, in London.
Billionaire Lawrence Stroll could buy cash-stripped outfit
Another hearing is set to take place next Friday and Szafnauer believes that the financial future will become more clear and secure. As per reports, Canadian billionaire Lawrence Stroll could go on to buy the cash-stripped outfit. Force India made their foray into the Formula One in 2008. After 202 races, in a decade, finances have become an issue for the team.
Szafnauer hopes operating matter will be back to normal
Discussions regarding the purchase of Force India are said to be in full swing. Szafnauer has stated that things are expected to get sorted soon and there is a belief that the critical period for the team will be over. After the Hungarian Grand Prix comes the mid-season break and Szafnauer hopes that the operating matter will be back to normal.
Issues for Force India and Mallya
There are multiple issues being faced by Force India at the moment with co-owner Mallya fighting extradition to India on fraud charges. It comes as another blow for the businessman, who earlier saw his Kingfisher Airlines shut down in 2012. On the circuit, team driver Esteban Ocon is set to join Renault next season. Force India stands a distant fifth in the 2018 rankings.
