Perez began legal proceedings against Force India over $4 million debt

Sergio Perez termed Force India’s financial situation ‘critical’ yesterday when asked about how the team was planning to go about its financial struggles.

And now a news has broken out, thanks to Racefans that Perez was the one who began legal proceedings against Force India over a $4 million debt.

Guernsey-based company, Brockstone have brought about a winding up petition for Force India and if the report in Racefans is to be believed, the company Brockstone is run/controlled by Sergio Perez and his manager Julian Jakobi.

Perez is seeking a payment in excess of $4 million and his lawyers told the court that it seemed like Force India were not in a position to pay him that debt.

Force India is now in administration, as confirmed by Joe Saward. This situation will allow Force India to function as normal over the next few weeks and will later provide them with the best opportunity to pay off their creditors.

Force India is now in administration. More details tomorrow.

— Joe Saward (@joesaward) July 27, 2018

Force India will need to put administrators in place so as to avoid massive disruption and resignations.

Force India COO had earlier confirmed that their people were their biggest asset and that they did not have to worry about losing their jobs, as suitable investors had already lined up.

Now, while this move from Perez might seem like backstabbing, but just imagine not getting paid by your boss for months together.

Force India also owes close to €10.5 million to Daimler/Mercedes group who also supported the winding-up order.

BWT has also  supported the winding up order as they claim the sponsorship deal was actually a loan.

Lawrence Stroll seems pretty interested in buying the team and reports state that he already has an agreement in place. What does the future hold for Force India.