The latest auto news, reviews, prices, product and vehicle releases. Jan
18th
Stay connected Subscribe to our RSS feed
From GMM
Sahara Force India "is in crisis" and it is possible the Silverstone based team "could collapse".
That is the claim of the Italiaracing magazine, who correctly reported some years ago that Pirelli would become the sport's new tire supplier.
Now, the Italian publication is reporting from sources that Vijay Mallya - Force India's embattled owner who has lost his billionaire status - is experiencing "severe economic difficulties with his companies".
Mallya's troubles with Kingfisher, his grounded Indian airline, are well known, but the 57-year-old also controls United Breweries, and F1 team Sahara Force India.
Italiaracing claims that, in recent days, F1 chief executive Bernie Ecclestone has "activated a plan to save the (Force India) team."
The sources mentioned the possibility of a return to F1 for Colin Kolles, the team boss who in the wake of the Silverstone based team Jordan's demise some years ago led the subsequent incarnations Spyker and Midland, and finally Force India.
As head of HRT, Colin Kolles left F1 at the end of 2011, a year before the Spanish team's collapse under new management.
Italiaracing also mentioned the former Renault chief and well-known Ecclestone ally Flavio Briatore, who has been out of F1 since the 'crashgate' scandal.
UPDATE
Sahara Force India Formula 1 Team has rubbished suggestions that it faces an uncertain future following rumours of severe financial problems.
"There is absolutely no substance to it. Our shareholder Vijay and Sahara are incredibly strong. They don't need partners,” said Bob Fernley, deputy team boss.
“As we speak, we are putting together and implementing an expansion programme that Vijay talked about at the end of last year. And all that is going ahead and moving forward. For the last four years, coming now to our fifth year, the team has been financed without any dependence on the shareholders' companies that they own. There is absolutely no substance to it anywhere and that's the thing that's very distressing."
Sahara Force India "is in crisis" and it is possible the Silverstone based team "could collapse".
That is the claim of the Italiaracing magazine, who correctly reported some years ago that Pirelli would become the sport's new tire supplier.
Now, the Italian publication is reporting from sources that Vijay Mallya - Force India's embattled owner who has lost his billionaire status - is experiencing "severe economic difficulties with his companies".
 |
| Photo: Sahara Force India F1 Team |
Mallya's troubles with Kingfisher, his grounded Indian airline, are well known, but the 57-year-old also controls United Breweries, and F1 team Sahara Force India.
Italiaracing claims that, in recent days, F1 chief executive Bernie Ecclestone has "activated a plan to save the (Force India) team."
The sources mentioned the possibility of a return to F1 for Colin Kolles, the team boss who in the wake of the Silverstone based team Jordan's demise some years ago led the subsequent incarnations Spyker and Midland, and finally Force India.
As head of HRT, Colin Kolles left F1 at the end of 2011, a year before the Spanish team's collapse under new management.
Italiaracing also mentioned the former Renault chief and well-known Ecclestone ally Flavio Briatore, who has been out of F1 since the 'crashgate' scandal.
UPDATE
Sahara Force India Formula 1 Team has rubbished suggestions that it faces an uncertain future following rumours of severe financial problems.
"There is absolutely no substance to it. Our shareholder Vijay and Sahara are incredibly strong. They don't need partners,” said Bob Fernley, deputy team boss.
“As we speak, we are putting together and implementing an expansion programme that Vijay talked about at the end of last year. And all that is going ahead and moving forward. For the last four years, coming now to our fifth year, the team has been financed without any dependence on the shareholders' companies that they own. There is absolutely no substance to it anywhere and that's the thing that's very distressing."