Force India F1 Team Plays Down Sale Speculation

Updated: 23 February 2018 13:59 IST

Force India have finished fourth in the championship for the past two seasons.

Force India F1 Team Plays Down Sale Speculation
Force India said their 2018 VJM11 car would be unveiled at Barcelona's Circuit de Catalunya next Monday. © AFP

Force India on Thursday played down talk of a potential sale of the British-based Formula One team owned by embattled tycoon Vijay Mallya. "Following recent media reports speculating on the sale of Force India Formula One Team Limited, the company's shareholders wish to clarify that there is no offer from potential investors under consideration," the team said in a statement. Force India have finished fourth in the championship for the past two seasons despite Mallya's financial difficulties and problems with the Indian government.

Mallya is fighting a request to extradite him from Britain to face fraud charges in India related to the collapse of his Kingfisher Airlines.

The beer and spirits mogul, once a billionaire, has not left Britain since March 2016.

Media reports this week suggested that British energy drink firm Rich Energy was leading a consortium seeking to purchase the Silverstone-based team for 200 million pounds (USD 278.66 million).

Mallya has talked previously of changing the team's name to make it more attractive to potential sponsors.

Force India, whose drivers are Mexican Sergio Perez and Frenchman Esteban Ocon, said their 2018 VJM11 car would be unveiled at Barcelona's Circuit de Catalunya next Monday, shortly before the start of pre-season testing.

The first race is in Australia on March 25.

Comments
Topics : Force India Formula 1
Highlights
  • Force India played down talk of a potential sale
  • Force India owned by embattled tycoon Vijay Mallya
  • Force India have finished 4th in the championship for past 2 seasons
Related Articles
Watch: Max Verstappen Shoves Fellow F1 Driver After Controversial Collision In Brazilian GP
Watch: Max Verstappen Shoves Fellow F1 Driver After Controversial Collision In Brazilian GP
Force India To Come Out Of Administration After Takeover
Force India To Come Out Of Administration After Takeover
Sergio Perez Sued Force India "To Save Team"
Sergio Perez Sued Force India "To Save Team"
Force India Goes Into Administration
Force India Goes Into Administration
Vijay Mallya Steps Down As Force India F1 Team Director
Vijay Mallya Steps Down As Force India F1 Team Director
Advertisement