Force India go into administration but will race in Hungary
July 28 2018 , 9:49 pm
Team owes money to creditors, including Mercedes and Perez; Sky Sports understands there are five interested bidders for takeover
Force India will continue to race at this weekend’s Hungarian GP despite being placed into administration on Friday night.
The team have been in financial trouble for many months and went into administration after a hearing at the High Court in London, which will allow the team to continue operating while a new owner is found.
The Silverstone outfit, currently owned by Vijay Mallya, owes money to several creditors, including engine suppliers Mercedes and driver Sergio Perez.
The futures of Perez, as well as team-mate Esteban Ocon, at Force India are still clouded in doubt.
There are five potential bidders interested in a takeover of the team, including Lawrence Stroll, who could therefore bring son Lance with him from Williams, and Dmitry Mazepin, the father of the squad’s development driver Nikita Mazepin.
“We are just in this critical period, which might last a week or two, we have to keep our heads down,” said COO Otmar Szafnauer in Hungary.
According to Szafnauer, there is “significant interest” from the team’s prospective buyers.