The Force India saga has finally come to an end, as a Lawrence Stroll led consortium has bought the team.
The consortium includes Canadian entrepreneur Andre Desmarais, Jonathan Dudman of Monaco Sports and Management, fashion business leader John Idol, telecommunications investor John McCaw Jr, financial expert Michael de Picciotto, and Stroll’s business partner Silas Chou.
The authorities have agreed to put the team out of administration as the new owners will be able to pay all the creditors in full.
Szafnauer, the Force India chief operations officer played a major role in helping the team return to solvency.
“This outcome secures the future of the Force India team in Formula 1 and will allow our team of racers to compete to our full potential,” said Szafnauer.
“I am delighted that we have the support of a consortium of investors who believe in us as a team and who see the considerable business potential that Force India has within F1 now and in the future.
“At Force India, our expertise and commitment has meant that we have always punched above our weight and this new investment ensures that we have a bright future ahead of us.
“I also would like to thank Vijay, the Sahara Group and the Mol family for all of their support and taking the team as far as their circumstances would allow.” he added.
Joint administrator Geoff Rowley too commented on the entire situation, emphasising on the fact that how the impressive consortium played a massive role helping the team get back to solvency.
“It is rare that a company can be rescued and returned to a position of solvency,” he said.
“The quality of the various interested parties has been impressive and required careful consideration as the administration has progressed.
“Having followed a robust process, in the end we were left with a highly-credible offer to save the company and restore solvency.
“Funding to support the team will be made available from today, and significantly more will be available once the company emerges from administration which we expect within the next two to three weeks.” he added.
The legal proceedings were initiated by Sergio Perez and Mercedes and both parties should now be happy that the team is back to where it belongs.
