Force India’s phase of turmoil has just gotten worse with rival teams denying them the approval of carrying forward the prize money bonus even after the arrival of new owners.
This would mean an approximate $150 million loss to the team, something that is bound to put off any new prospective buyers.
Toto Wolff was quizzed about the entire Force India going into administration fiasco, with Mercedes also being one of the entities that initiated the legal proceedings.
Wolff confirmed that there are 5 suitable buyers for Force India and has also emphasised on the fact that Mercedes are not looking to buy Force India.
The rumour mill suggested that Mercedes were planning to buy Force India, but Wolff has put all those rumours to rest.
“The team has gone into ordinary administration and the administrator is taking over,” Wolff said.
“There are five bidders. We’re not one of them and we’re not interested.
“We are one of the creditors, one of the suppliers that has helped the team over God knows how many years in competing. So let’s see how that goes.” he added.
Wolff also spoke about the possibility of him owning equity in F1 teams in the future, just like he did in Williams a few years back.
“When I decided to take up the opportunity with Daimler and became a shareholder of the Mercedes F1 team and involved in the management of it, I had to relinquish all positions of potential conflict of interest,” Wolff said.
“I sold my shares in HWA, and I also sold the shares in Williams. I will not, neither directly or indirectly, be involved in any other Formula 1 team.” he added.
Mercedes are one of the creditors in the entire Force India fiasco, as the team owes them close to $9 million.
