Racing Point Force India has been granted permission by the FIA to enter Formula 1, effectively replacing Force India ahead of this weekend’s Belgian Grand Prix.
Force India was put into administration prior to the Hungarian Grand Prix. During the summer break, a consortium of investors led by Lawrence Stroll – father of Williams driver Lance – moved to purchase the team.
Negotiations were complicated particularly after McLaren, Renault and Williams effectively blocked Stroll’s efforts to purchase Force India’s entry.
The consortium instead opted to buy Force India’s assets and rather than purchasing the existing entry, the group has secured approval from the FIA to create a brand new team.
Racing Point – the company name under which the consortium has operated – has, therefore, become a permanent entry. The name Racing Point Force India is expected to be revised at the end of the season.
Racing Point Force India will start with zero points, as Force India’s 59 points amassed over the course of the 2018 season so far counted towards the now dissolved entry.
Sergio Perez and Esteban Ocon retain their points scored in the drivers’ championship and will continue to race for the team.
Speculation, however, links Lance Stroll to a potential seat at Racing Point as early as September’s Italian Grand Prix, given his father’s influence at the team.
Despite a decade in the deputy team principal role at Force India, Bob Fernley has left the Silverstone-based squad. Former COO Otmar Szafnauer has been appointed as Racing Point’s team principal.
“The new Racing Point Force India team is delighted to be able to race when the championship resumes in Belgium this weekend,” said Szafnauer.
“This heralds a new and exciting chapter for us. Just a few weeks ago, an uncertain future lay ahead, with more than 400 jobs at risk; now the new team has the backing of a consortium of investors, led by Lawrence Stroll, who believe in us as a team, in our expertise and in our potential to achieve success on the track.
“We are grateful to the FIA, the Joint Administrators and Formula One Management for their support in helping us achieve such a welcome outcome and ultimately, we trust, for the sport and its many fans.”
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