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Mallya sells Force India stake

Force India renamed following new investment in team from Sahara India Pariwar
Vijay Mallya has elected to sell a stake in the Force India F1 team after confirmation that Sahara India Pariwar, a leading promoter and patron of sports in India, has made an equity investment in the Silverstone-based squad.

The deal, worth $100 million, will see Sahara India Pariwar and Mallya each own a 42.5 per cent stake in the team with the remaining 15 per cent remaining in the hands of the Mol family – who were co-owners when the team was still referred to as Spyker.

Following the agreement, which was confirmed in a press conference in New Delhi, the team will now be known as Sahara Force India F1, with Mallya welcoming the new investment.

“I am delighted to welcome Saharasri Subrata Roy Sahara as Chairman of Sahara Force India,” he said. “It has indeed been a matter of pride for me to put India on the F1 map with Force India and raise the performance of the team to its current levels.

“The Sahara Group has played a very important role in the development of sport in the country and is an ideal partner to take the Force India F1 Team to greater success in the Formula One World Championship".

Sahara boss Subrata Roy was also delighted to announce the deal, which comes just week before India hosts an F1 event for the first time.

“India is reaching new heights in all spheres, including sports,” he said. “Formula One car racing has always remained a bastion of the western world. The advent of India in this exciting sport has remained a matter of pride for all our countrymen.

“I feel doubly proud that Sahara is the co-owner of India's only F1 team and I am sure that through the Sahara Force India F1 Team, we will together bring pride and laurels to our beloved nation.”

The announcement comes just days after Mallya denied reports that the team was for sale [See seperate story HERE].




Related Pictures

Click on relevant pic to enlarge
08.10.2011- Qualifying, Adrian Sutil (GER), Force India F1 Team, VJM04
08.10.2011- Qualifying, Paul di Resta (GBR) Force India VJM04
07.10.2011- Friday Practice 2, Adrian Sutil (GER), Force India F1 Team, VJM04
Daniel Juncadella (ESP) Sahara Force India F1 VJM07 Test and Reserve Driver.
09.07.2014. Formula One Testing, Silverstone, England, Wednesday.
Daniel Juncadella (ESP) Sahara Force India F1 VJM07 Test and Reserve Driver.
09.07.2014. Formula One Testing, Silverstone, England, Wednesday.
Daniel Juncadella (ESP) Sahara Force India F1 VJM07 Test and Reserve Driver.
09.07.2014. Formula One Testing, Silverstone, England, Wednesday.
Daniel Juncadella (ESP) Sahara Force India F1 VJM07 Test and Reserve Driver.
09.07.2014. Formula One Testing, Silverstone, England, Wednesday.
Daniel Juncadella (ESP) Sahara Force India F1 VJM07 Test and Reserve Driver.
09.07.2014. Formula One Testing, Silverstone, England, Wednesday.
Daniel Juncadella (ESP) Sahara Force India F1 VJM07 Test and Reserve Driver.
09.07.2014. Formula One Testing, Silverstone, England, Wednesday.
Daniel Juncadella (ESP) Sahara Force India F1 VJM07 Test and Reserve Driver.
09.07.2014. Formula One Testing, Silverstone, England, Wednesday.
Daniel Juncadella (ESP) Sahara Force India F1 VJM07 Test and Reserve Driver.
09.07.2014. Formula One Testing, Silverstone, England, Wednesday.
Daniel Juncadella (ESP) Sahara Force India F1 VJM07 Test and Reserve Driver.
09.07.2014. Formula One Testing, Silverstone, England, Wednesday.
Daniel Juncadella (ESP) Sahara Force India F1 VJM07 Test and Reserve Driver leaves the pits.
09.07.2014. Formula One Testing, Silverstone, England, Wednesday.
The Sahara Force India F1 Team motorhome.
08.07.2014. Formula One Testing, Silverstone, England, Tuesday.
Sahara Force India F1 Team trucks in the paddock.
08.07.2014. Formula One Testing, Silverstone, England, Tuesday.
Sergio Perez (MEX) Sahara Force India F1 VJM07.
08.07.2014. Formula One Testing, Silverstone, England, Tuesday.
Sergio Perez (MEX) Sahara Force India F1 VJM07.
08.07.2014. Formula One Testing, Silverstone, England, Tuesday.
Sergio Perez (MEX) Sahara Force India F1 signs autographs for the fans.
08.07.2014. Formula One Testing, Silverstone, England, Tuesday.

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Droog - Unregistered

October 12, 2011 5:46 PM

See Oct 7 - Mallya 'shocked' by 'Force India for sale' rumours Really? Shocked? Methinks VJ is getting a little burned out, too much on too many plates at once. Class act of a team though, well done to get where they are right now.



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