SILVERSTONE, ENGLAND: Sahara Force India co-owner and team principal Vijay Mallya has quashed recent media speculation that the Silverstone-based Formula One team was in advanced sale negotiations though he admitted being open to serious offers “backed by cash”.
The fugitive Indian liquor baron, who has a 42.5% stake, as does fellow embattled businessman Subrato Roy, said there was a possibility of main sponsor BWT getting more involved and changing the team’s name.
“If somebody comes along and wants to pay an attractive price for anything, you have to put your commercial hat on and think about it commercially, not emotionally,” Vijay Mallya told Reuters at the British Grand Prix.
“And that’s precisely where I am.
“I cannot comment on the status of offers or discussions. But there is no agreed offer on the table backed by cash.”
Asked by Reuters about a possible name change, mentioned last year, Mallya said Austrian water technology company BWT had produced “a big wish list”.
“If BWT wants the name of the team to be changed to BWT Racing, like Red Bull Racing, they need to make a very long-term commitment,” he said.
“If they want the chassis name changed, then I need F1 commission approval. But it has to be long-term. If BWT decides to walk out of Formula One, I can’t be stuck with the BWT chassis name.
“They are considering it, but that’s up to them,” said the Indian. “They know that a chassis name change is a much bigger event than just sponsorship.”
