Sports News: F1 team Force India to come out of administration


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 Esteban Ocon of Force India

The F1 Force India team reached an agreement with the Administration to save the 405 jobs at its Silverstone base

The team's management, supported by a consortium of investors led by Lawrence Stroll, have ensured the future of the team.

Force India was placed under administration in July.

The pilot of the team, Sergio Perez, said that he had started an administrative procedure in order to postpone a liquidation request from another creditor.

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Canadian billionaire Stroll is the father of Lance, Williams F1 driver.

Otmar Szafnauer, worked with the administrator to find investors capable of securing the long-term future of the company.

"This result guarantees the future of the Force India team in Formula 1 and will allow our riders team to compete to our full potential," said Szafnauer.

"I am delighted that we have the support of a consortium of investors who believe in us as a team and who see the great commercial potential of Force India in the future."

Three of the biggest names in Formula 1 – McLaren, Williams and Renault – fear a potential sale to Stroll.

The teams fear that Force India, which uses Mercedes engines, could actually become a Mercedes "B" team.

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Sports News: F1 team Force India to come out of administration

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