Force India Formula 1 team has been placed in administration following the verdict of a court hearing in London on Friday.
This ruling was confirmed by the team’s deputy team principal Bob Fernley on Friday night; “an administrator was appointed by the court for Force India F1 this evening,” he told Reuters.
Fernley has not travelled to this weekend’s Hungarian Grand Prix having stayed in London for the hearing.
It is believed that a company associated with the team’s driver Sergio Perez, as well as power unit and gearbox supplier Mercedes were the parties initiating the court action.
The news follows months of reports and speculation linking perspective investors with the team. Force India has been actively searching for potential buyers this year.
Recently rumoured to be in contention to buy the team is Williams driver Lance Stroll’s father Lawrence. Such a buyout would likely see Lance take a seat at the team, with Lawrence reportedly interested in involving Robert Kubica as part of the project and a potential race seat.
Meanwhile, RaceFans.net has reported that GP3 driver Nikita Mazepin’s father is also interested in investing in the team, with his company Uralkali already a Force India sponsor.
Force India has not commented on any of these rumours, albeit the team’s CEO Otmar Szafnauer hinted that an investment deal was close to completion when speaking prior to the administration verdict.
“I think it’s imminent,” he said. “I know there are discussions going on in the background. I’m not privy to those because it’s a shareholder issue and I’m not a shareholder, otherwise I would know more. But it will be very soon.”
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