Force India Saved By Stroll

FORCE INDIA SAVED BY STROLL

    Force India has been saved after a consortium of investors, led by the father of Williams driver Lance Stroll, had its bid for the team accepted by administrators.

    Lawrence Stroll, along with a number of business men and financial experts, agreed a deal with Force India’s administrator, FRP Advisory, on Tuesday.

    All 405 jobs at the team have been saved and creditors – including Mercedes and driver Sergio Perez – have been paid.

    The team also now has access to funds and plans to bring upgrades to Spa, or Monza at the very latest.

    The consortium is made up of seven men. Alongside Stroll are Canadian businessman Andre Desmarais, head of Monaco Sports and Management Jonathan Dudman, Michael Kors CEO John Idol, American businessman John McCaw Jnr, financial expert Michael de Picciotto, and Silas Chou, Stroll’s business partner.

    They take over ownership of the team from Vijay Mallya and Orange India Holdings Sarl.

    “This outcome secures the future of the Force India team in Formula 1 and will allow our team of racers to compete to our full potential,” the team’s chief operating officer, Otmar Szafnauer, said in a statement.

    “I am delighted that we have the support of a consortium of investors who believe in us as a team and who see the considerable business potential that Force India has within F1 now and in the future.”

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Article Written By: Bethonie Waring
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