Russian businessman unhappy with Force India’s sale process

Russian potash producer Uralkali has questioned the process behind the sale of the Force India Formula One team after losing out in a battle between billionaire fathers of young racing drivers.

Uralkali co-owner Dmitry Mazepin is the father of 19-year-old Nikita, who races in the junior GP3 series and is a development driver for Force India.

The team were put into administration at the end of July with a rescue deal led by Canadian Lawrence Stroll, the father of 19-year-old Williams F1 racer Lance, announced on August 7.

Uralkali, whose shares are quoted on the Moscow stock exchange, said in a statement yesterday that it had bid unsuccessfully for the outfit previously co-owned by troubled Indian businessman Vijay Mallya.

The statement did not mention Mazepin by name.

“Uralkali considers that the process conducted by the administrator may not be in the best interests of Force India creditors and other stakeholders, and the sport in general,” it concluded.

Joint administrators Geoff Rowley and Jason Baker, for FRP Advisory LLP, responded by saying that “all bidders were given equal opportunity to submit the best deal.

“Throughout, we [the Joint Administrators] have closely followed our statutory duties and objectives as administrators and had the advice of experienced legal counsel,” they added in a separate statement.