Stroll and investors to acquire Force India

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Photo by: www.kymillman.com/f1

Last week, I asked you whose dad would buy Force India and today I am happy to share with you the news that Lance Stroll’s dad is buying the team…along with some buddies of his.

The Stroll-led consortium includes Andre Desmarais, Jonathan Dudman of Monaco Sports and Management, John Idol, John McCaw Jr, Michael de Picciotto and Stroll’s business partner Silas Chou. One presumes his son will be announcing his departure for the team soon but then he is working off of a contract at Williams and his father is also leveraged in that team as well.

Force India’s COO, Otmar Szafnauer, worked with the administrators at FRP Advisory LLP to secure the buyout and said:

“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.”

The takeover will find the F1 paddock seeing the back of Vijay Mallya, Subrata Roy and the Mol family. The statement, via F1’s website, did not mention the issue that was raised in Hungary with McLaren, Renault and Williams not signing the document ensuring that Force India would be eligible for their prize money as new owners are now involved and it’s considered a new team.

Joint administrator Geoff Rowley said: “It is rare that a company can be rescued and returned to a position of solvency. 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. All creditors will be paid in full, all jobs will be preserved, and the team will have significant funding to invest in its future.

“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.”

As a provider of engines and the supporter of Esteban Ocon’s career, I would imagine he would stay with the team. What is unclear is that if Stroll’s son is going to drive for the team, this means Sergio Perez may be looking for a seat and many fans are warming to the idea of the Mexican driver finding a home at Haas F1 in replacement of Romain Grosjean.

There’s also the issue of a name change which has to be managed through the FIA for entry in the next season. The 405 jobs are said to be secure and the funding needed to continue has been guaranteed as well as the payments of current creditors. Sergio gets paid!

Hat Tip: F1

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The Captain
Member

Surely this will teach the spoiled entitled brat to not to be such a spoiled entitled brat!

Member

Which spoiled entitled brat are you referring to?

Tom Firth
Editor

Lance Stroll is not my favourite F1 driver, but if his father wants to save the jobs and livelihoods of hundreds of Force India’s staff by saving a team that has in its various iterations graced the F1 grid since 1991 to give his son a drive next season then I’ve no issue with that.

Member
Fast Freddy

Sounds like a plan. I’m glad they will still be around, as long as they don’t go faster than Haas.

Todd b
Guest
Todd b

Well, this just brings the “paid driver” to the next level. What’s next, Chase Carey’s son at Mercedes to partner Hamilton?

Gary
Guest
Gary

Yeah. Stroll wouldn’t want to be measured against Perez (ROFL). Maybe Ocon goes to Williams and, hmm, who is available and would show poorly against the Golden Boy?

nioannou
Member
nioannou

With the Sainz vs Verstappen feud, is there a chance that Red Bull look at Perez if Gasly is not ready?

PuhadadaJensen
Guest
PuhadadaJensen

Oh no I fear in the long run this will be the downfall of Force Stroll if Lance gets his seat. To bad others did not offer more money for the team.

Member

Its great that Force India (now known as the sileverstone based racing team?) have new investors, and can carry on. Does anyone know what the implications are for Williams of this?
Presumably they lose the Stroll money, which would be a big lump of their budget.

MIE
Editor

Maybe Lance will stay at Williams until his results earn a place at his Dad’s team? The prize money Force India are owed is double the money Williams are paid to take Lance.

jtr
Member
jtr

Lance doesn’t seem the type to patiently wait for his results at Williams to turn around before trying to climb the ladder. His hissyfits on the radio whenever things don’t run smoothly make me think that he’s ready to get the hell out of Williams pronto. This seems to be an attempt at a quick-fix for Lance’s woe’s, just like buying into Williams was a quick fix to get an F1 seat rather than to wait patiently in F2 for Lance to impress a team well enough to earn a promotion. One of my family members earns his living in… Read more »

Member

So Stroll Sr could finance Williams as a Force India ‘B’ team?

Peter Riva
Member
Peter Riva

you called it… bravo NC…
Now, I give the team a year and a half… decision by committee in any pinnacle venture is a recipe for disaster.

Lemongrab
Guest
Lemongrab

Even as a Canadian, I dislike Lance, but I’m not sure he’s quite as bad as we want to believe he is.

MADCITY
Member
MADCITY

Why does Frank and Co have such an incredibly tumultuous relationship with Canadians and Germans. You’d think the Perez’ and the Carey’s of the world would be a bit better study of history. Yes, Frank won a Championship with a Canadian, that also, along with some Germans also tried to relieve him of his team, which as I recall actually happened at the hands of yet another Canadian. I feel terrible for Otmaur and Bob Bell and the rest of the team for that matter for fear that the inevitable is so likely a year or two down the road… Read more »