We’re a new book, not new chapter in F1: Racing Point

TORONTO: Racing Point have put the cash-starved Force India days behind and now have the resources to show Formula 1 what they can really do, the Canadianowned team said on Wednesday.

Technical director Andrew Green told a livery launch, where Kenyan betting company SportPesa was announced as new title sponsors, that the buzz at the factory since the change of ownership was incredible. “The investment that’s in the team is absolutely unprecedented, there’s a real sense of we can show people what we can really do now. They have given us the tools to be able to move forward. It’s not a new chapter in the history of this team, we’re a new book now,” he said. “We’re all eager to prove that we can do more. If you give us a little bit more, we can do a lot more. Over the coming months you’ll see the team grow and develop and the performance of the car will increase at quite a dramatic rate.”

Force India went into administration in July 2018 with only 240,000 pounds to their credit while outstanding gross wages due at the end of that month totalled 2.2 million. Bankers Santander had already frozen the company’s accounts, a report by the administrators later said. There were also significant debts, including 13.7 million to engine providers Mercedes alone.