What salvation means for Force India
The administrators for the Force India Formula 1 team have accepted a bid from a consortium led by Lawrence
Stroll, saving it from a Caterham/ Manor-style demise.
Force India had been in administration since the Friday before the Hungarian Grand Prix last month, but was returned to solvency after a deal was struck with a Stroll-led group of investors assembled with the help of Force India’s chief operations officer Otmar Szafnauer and the team’s senior management.
Its creditors will be paid in full, all 405 jobs at the team have been saved and ongoing funding has been guaranteed.
When Caterham and Marussia went into administration at the end of 2014, only Marussia continued, having gained fresh investment under the
Manor name. But it was placed in administration again at the end of
’16 and then collapsed for good.
“Once we went into administration, there were a couple that have been there and didn’t come out,” Szafnauer told Autosport. “So, there is a lot of trepidation among all the team members, and a lot of anxiety, because we didn’t know where it was going to go. It’s a huge relief to know there’s a future for the team.”
The new owners’ plan regarding senior team personnel is unknown. Vijay Mallya, co-owner of the team for the past 11 years, had been its official team principal, with Bob Fernley acting as his deputy. Szafnauer said he did not know if he and Fernley would retain their positions.
Stroll has been helping bankroll the Williams team, and his son Lance made his grand prix debut with the team in 2017. The younger Stroll is now expected to switch to Force India, which is likely to pursue a name change for 2019 now that it is not under Mallya’s control.
The team’s focus is on its short-term prospects, chiefly the funding that will allow for vital upgrades worth over half a second per lap to be put into production. Szafnauer told Autosport he was hopeful that the team would have its upgrades by next week’s Belgian Grand Prix.
“I hope that’s the case,” he said. “If not, definitely by Monza [the following race]. There are some components that have been put on hold and I don’t know where the suppliers will get to because they don’t work over the break.”
The team will receive some funding immediately, with more to come before the end of the month once its emergence from administration is complete.
Force India still has an outside shot of repeating its fourth place in the previous two seasons’ constructors’ championships, despite its financial difficulties holding back development. The team spent the early races getting on top of a diffuser-stall problem, among other aero weaknesses – caused by poor windtunnel/cfd-to-track correlation – but did eventually troubleshoot the VJM11 into a better-balanced car, albeit one still lacking in outright downforce.
Its operational strength – considered one of the best in the pitlane – has allowed it to claim 11 points finishes, with Sergio Perez taking the best result of the season with third in Azerbaijan, to put the team sixth in the championship, only 23 points behind fourth-placed Renault.
“We have to start paying our suppliers and purchase some needed materials for upgrades for this year and for next year’s car,” said Szafnauer. “It’s much needed and couldn’t have come at a better time.”