MUMBAI: Formula 1’s Sahara Force India team is set to undergo a change in ownership as top Canadian investor Lawrence Stroll is said to have successfully negotiated a deal with the team’s embattled co-owners, Vijay Mallya and Subrata Roy.
The exact nature of the deal is yet to be officially announced, according to a NDTV report.
Stroll’s move reportedly has many advantages. Roy and Mallya are financially struggling so much so that the team is on the verge of filing for a controlled bankruptcy. According to Force India’s COO Otmar Szafnauer, the team is hurting in terms of the midfield development race. It doesn’t help that the results of their rivals such as Haas and Sauber are much better this season with Ferrari-powered engines.
“To win a development race you need the resources to be able to develop,” Szafnauer told Autosport.
“We are suffering, truth be told. If we had more resources, both financial and internal manufacturing, we’d have parts on the car quicker. And in a development race, that hurts you.
“The whole thing is better when you have the resources.”
The buyout is not only likely to positively impact the team’s on-field performance, but also reduce the chances of nearly 400 employees of the company quitting their jobs. Stroll is expected to make an official announcement soon on the fate of the Force India Academy that trains young racing talents from across the globe.
Additionally, it is interesting to note that Lawrence’s son, Lance happens to be an F1 driver who is contracted with Williams. With this purchase, Lance could well transfer to Force India as its No.1 driver the next season and have better chances of making the podium.
It has also been reported that Stroll is keen on changing the name of the team, just like Roy and Mallya did back in 2007 when they purchased this team from Spyker F1 and rebranded it as Sahara Force India.
In order to attract wider audiences and top sponsors, the team’s name could have a global appeal. At present, their sponsors such as BWT, Rich Energy and Havaianas are keen to remain associated with the team despite the potential change in ownership and brand name.
