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Breath at Force India. The team will survive under another name. It was an action on the razor's edge. Without a direct takeover or bankruptcy, Force India would run out of money during the summer holidays. After the last rescue attempt of the founder of the Vijay Mallya team, the team announced a bankruptcy controlled Friday, July 27, 2018 before the Hungarian GP.
Before the company went bankrupt, Mallya tried to convince the judges one last time that he had a sponsor in hand who would take over the debt of about £ 30m. These include Mercedes with 9.6 million and Sergio Perez with three million pounds. The judge did not let himself be convinced by the Rich Energy sponsorship agreement presented on the morning of the cut-off date. Apparently, the guarantees were not enough for him to really exist. Rich Energy accused Mercedes, BWT and Perez of not saving them in a Twitter message
The trustee pays all the bills
For Force India, the protection against creditors does not change anything at first. Daily activity continues as usual. All invoices are settled by the insolvency administrator in coordination with team leaders Bob Fernley and Otmar Szafnauer. The timing is perfect. Due to the summer holidays, August is the month when the lowest costs are incurred.
Force India determines the driver market Renault has the option on Ocon Force India expects the administrator Insolvency has one in the next three weeks The buyer selects. For the bidding process, five interested parties. An American consortium consisting of businessman Jeff Moorad and investment firms Castle Harlan and Najafi. They had first made an individual offer, but they came together to form a community of interest
. Main sponsor BWT, Russian fertilizer king Dimitry Mazepin, IndyCar race team of Michael Andretti and Rich Energy bid.
Canadian businessman Lawrence Stroll is not one of the candidates for takeovers. Paddock radio reports that Stroll senior will join the new owner with a $ 30 million dowry to house his son in the team. Williams should not be short-term, they say. Lawrence Stroll would continue to respect his obligations and not leave the team in the rain.
Lance Stroll will then take over the badpit of Esteban Ocon, who will probably be with Renault. Sergio Perez makes his decision dependent on the new owner. "If they are serious people, I will stay with Force India.The guys on the team are always the same.It's always the best troop in the middle of the field.Without financial worries, we tend to go even better. "
An obstacle must be overcome by Force India when the takeover is complete. The team will change its name. The other nine race teams must be in agreement. What they will probably do is because no one has interest in 2019 only 18 cars initially. The second step is more difficult. The other teams must also comply with the fact that the Force India successor team receives the right to pay entry fees and TV rights. There could be resistance here. In the worst case, the new owner would miss $ 60 million in the cash register.
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