Force India going into administration has received a lot of coverage from the media, as legal proceedings were initiated by Sergio Perez and despite a last minute £30 million sponsorship offer from Rich Energy, the court did not deem the money to be enough and hence wanted Force India to go into administration.
Rich Energy has actually been in talks to buy out Force India for some time now, as revealed by CEO William Storey in an interview with Motorsport TV.
Despite a last minute £30m cash injection from @rich_energy the court has today put @ForceIndiaF1 into administration. A tragic and avoidable outcome orchestrated by @MercedesAMGF1 @SChecoPerez , Julian Jakobi and BWT. Disgraceful pic.twitter.com/2E9N9WPmKy
— Rich Energy (@rich_energy) July 27, 2018
Story spoke about how the money was infact ‘real’ and with four billionaires backing the company, they had enough money to sustain Force India and its operations.
He also spoke about Rich Energy’s motives of coming into F1, as they want to rival Red Bull in the European market and already have two large European distributors on their side, one’s that have given up on Red Bull.
Storey also claimed that Rich Energy would be in F1 and would try and buy Force India sooner than later.
“We’ve got the money to do so, the business model and the reasons to do it,” he said.
“Having spent six months working on Force India we’re not going to relinquish that overnight.” he added.
There have been a lot of questions around Storey’s image, as he sports a long beard and long hair, but Storey feels that people shouldn’t judge him by his looks.
He is serial businessman who knows how to get around in the world of business, and that is possibly all that matters when he is trying to enter F1 with a commercial motive.
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