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Force India's financial problems deepen
Sergio Perez The financial problems facing Force India have deepened with revelations that on Wednesday the team was in court to respond to a winding up petition. A winding up petition essentially places the team into administration, though allows the it to continue trading. It could however see an official appointed to liquidate some of its assets in order to pay its debts. Reports have suggested the team owes nearly $16million to the Daimler/Mercedes group, which supplies the team with engines, and $5.3million to a company linked to Sergio Perez. Sponsor BWT was also part of the winding up application submitted to the court, claiming its sponsorship deal was actually a loan. Force India...
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5y ago from SpeedCafe.com
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