Force India Enters Administration With Sergio Perez Taking Action Against The Team
Force India is a team that’s had it’s fair share of ups and downs however, it now seems that things are taking a turn for the worst as Force India enters administration following an action brought against the team by it’s driver, Sergio Perez.
Despite entering administration, the team will continue to operate normally and will be competing in this weekend’s Hungarian Grand Prix and the aim for the team will be “business as usual, whilst we asses options to secure a future for the team.”
Mercedes, who supplies gearboxes to the team, claims to be owed more than €10.5million through the Formula 1 team, the engine division and the parent company Daimler – Mercedes and Force India are currently in their 10th year partnership of an engine supply relationship and Mercedes is also involved with the creditors, who are asked if they support the petition Brough forward by Sergio Perez.
Back at the British Grand Prix, Force India’s current primary shareholder, Vijay Mallya said that he has yet to received what he viewed as being a satisfactory offer to buy the team.
Following the announcement, Joint Administrator Geoff Rowley said the following: “We shall be engaging with key stakeholders on an urgent basis to secure the best outcome for creditors. In the meantime, the team will continue to operate as normal – including racing in Hungary this weekend.”
“The aim is for business as usual whilst we asses our options to secure the future of the team.”
Force India Chief Operating Officer, Otmar Szafnauer said: “The more money you have in this game, usually the better you do. Hopefully, this will all be sorted soon and we’ll get back to operating in the normal manner that we are used to.”
“At the moment, we are just in a critical period which might last a week or two however, we have to keep our heads down and do the best we can here. Go and enjoy – after the test, enjoy the break and then come back fighting thereafter.”