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Many interested in buying Force India - Wolff

Many interested in buying Force India - Wolff”

Should a sale go ahead, the next hurdle will be an application for a team name change for 2019.

As the major creditor, and with the futures of junior drivers Esteban Ocon and George Russell also in mind, Mercedes was closely involved in the discussions that led to Sergio Perez triggering the action that put Force India into administration.

"This applies especially to those who work at Force India, which is going through a particularly hard time at the moment".

The Force India Formula 1 team co-owned by Vijay Mallya has been in deep financial trouble for a while now.

"As a result, the team is now in the hands of an administrator who can sell the team and save the jobs of the 400 awesome people that work at the team". The move was prompted after one of the team's creditors approached the United Kingdom courts in order to get a "wind up" notice against the team.

There was no further immediate comment from the team, which, on Friday, had said it hoped to resolve its critical cash-flow difficulties with the help of new investment, while under administration.

Perez said at the Hungarian Grand Prix that he had endured a month of emotional hell and his racing had suffered because of the team's precarious financial situation. Earnings from TV revenue and prize money constitute a big chunk of earnings for teams like Force India. "Our aim is for business as usual whilst we assess options to secure the future of the team".

Force India's problems are well-documented, with Mallya having assets frozen in India and fighting an attempt to extradite him from Britain to face charges of fraud, which he denies. It has consistently outperformed more experienced teams such as McLaren and Williams and has ranked fourth in the Constructors' Championship the past two seasons.

He is tipped for a move to Renault while Perez's future remains uncertain.

"It's fine for him to go but we have to agree to that", Szafnauer said.

Should it be the case that Force India is actually insolvent, in that it can not now pay its bills, under the terms of the team agreement it is not allowed to race and also loses its rights to the prize money.



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