News Details

Force India saved by consortium led by Stroll

Force India has been bought by a consortium led by Canadian businessman Lawrence Stroll, father of Williams F1 driver Lance. The bid was put together with the help of the team's senior management, including chief operations officer Otmar Szafnauer. The team had been placed in administration at the end of July after it emerged that it was no longer able to pay its outstanding bills. Among the creditors owed millions of pounds were engine providers Mercedes and driver Sergio Perez. But today's deal, which has been agreed with the joint administrators appointed by FRP Advisory, means that all creditors will now be paid. Better yet, all 405 members of staff working at the team's factory at...
Full Story »
10mo ago from F1i.com 0
Share

You May Also Be Interested In...

Stroll-backed consortium saves Force India

As expected Force India has been saved by a consortium headed by Lance...
10mo ago from GrandPrix247.com

Stroll rescues Force India

The Force India F1 team are to be rescued from administration by a...
10mo ago from SkySports.com

BREAKING: Force India come out of administration

Force India have agreed on a deal to avoid bankruptcy and to come out of...
10mo ago from GPBlog.com

Lawrence Stroll-led consortium of investors rescues...

The Force India Formula 1 team is to exit administration in the coming...
10mo ago from MotorsportWeek.com

Elsewhere On The Network

Popular On MGPToday.com

Popular On IndyCarToday.com

Popular On TotalWRC.com

Popular On GunnersToday.com

Arsenal confirm backroom shake up as Unai Emery looks...

FORMER winger Freddie Ljungberg has been named as Arsenal’s new...
9h ago from Express.co.uk

Liverpool, Arsenal interested in Southampton defender...

Liverpool and Arsenal are reportedly interested in signing Southampton...
2h ago from SportsMole.co.uk

Arsenal 'contact father of Paris Saint-Germain...

A report claims that Arsenal have contacted Presnel Kimpembe's father as...
12h ago from SportsMole.co.uk

Man City set to use buy-back clause to beat Arsenal...

MANCHESTER CITY are reportedly set to use a buyback clause to re-sign PSV...
9h ago from DailyStar.co.uk

Comments

Advertisements

Hottest News

How Schumacher's broken leg in 1999 was Ferrari's fault,...

Former Ferrari team principal Stefano Domenicali... Read More »
12h ago from GPFans.com

Brown: Mercedes will have to lay-off people

McLaren CEO Zak Brown predicts Mercedes will have... Read More »
10h ago from GrandPrix247.com

Kubica believes he and Russell are driving in 'two...

The two Williams cars are parked at the back of... Read More »
17h ago from GPBlog.com
Advertisements

Recent News

Advertisements

Advertisements

2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.