LONDON: A UK-based energy drinks company is in talks to buy Sahara Force India, the formula one team co-owned by embattled liquor baron Vijay Mallya, who is facing extradition to India over money laundering charges.
British media reported on Wednesday that William Storey, chief executive of energy drinks brand Rich Energy, is fronting a consortium that is planning a £200 million ($278 million) takeover of the brilliantly managed and run Force India.
Force India finished fourth in the Formula One Constructor’s Championship in 2017, a considerable achievement for a team that has none of the financial wherewithal of the big guns of F1 but punches much above its weight.
The team remains the most notable property in the portfolio of Mallya, who has had much of his assets in India and elsewhere either seized or frozen as he faces charges of money laundering and defrauding a consortium of Indian banks to the tune of more than Rs 90 billion.
Rich Energy enjoys a rapidly growing presence in the market and already has tie-ups with the Monaco Grand Prix and Pirelli, UK’s Sun reports. Boxing superstar Gennady Golovkin is a brand ambassador, along with former England footballer Rob Lee who is also a shareholder in the company.
UK’s The Mail further reports that financier Laurie Pinto is involved as an adviser on the deal which, if successful, would see them become only the second British-owned team in F1.
