Lance Stroll’s dad, Lawrence, Indycar owner Michael Andretti and Alexander Rossi’s dad, Nikita Mazepin’s dad, Dmitry, and surely someone at rich Energy is a dad too? What’s with all the wealthy dad’s lining up to buy Force India for their kids?
In a recent article at Autosport, Rich Energy’s, William Storey, says they had engaged Force India earlier this year and offered 30 million Pounds but the deal didn’t go through at the 11th hour as it was sent to administration. Rich energy called it a Machiavellian move but says they still have the cash to buy the team even though their balance sheet doesn’t suggest a bloated, cash-rich company as it is a new company in the market. Never mind that, says Storey, the liquidity behind the company is significant.
I would say it had better be because if he’s upset his 30 million didn’t secure a deal, I have bad news—thirty million Pounds isn’t enough to make a long-term solution for a team. I recall when Haas F1 entered, Bernie Ecclestone said that any realistic offer needed to have close to a billion behind it for the long haul. Now, let’s take that with a grain of salt, it’s Bernie, but to be honest, that’s probably not far off if you consider the amount the top teams spend.
The article says that Rich Energy has to convince the administration and creditors, such as Mercedes, that it is more credible than the other potential buyers. Makes me think Mercedes is the single biggest creditor but I have no way of knowing that. Still, I think we will all be very interested in the eventual outcome and it would not surprise me in the least if Mercedes has some skin in the game but I could be completely wrong on that.
I noticed Lance Stroll skipping around the Williams motorhome during Ted Kravitz’s Notebook video and he looked like a kid whose dad just bought him a Formula 1 team but who knows? Maybe a Russian billionaire or Rich Energy will find a pile of cash.
Hat Tip: Autosport