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Sahara Force India administration: ‘clear and secure future’ as F1 team heads for a planned restructuring

The team was listed for a Companies Court winding-up hearing at London’s High Court on Wednesday

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Sahara Force India will be placed into administration shortly. Photo: EPA
Force India Formula One team is expected to go into administration within weeks as part of a planned restructuring process with new investment, the team’s chief operating officer Otmar Szafnauer said Friday.
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The team, owned by Vijay Mallya, was listed for a Companies Court winding-up hearing at London’s High Court on Wednesday this week.

Szafnauer said another hearing was taking place Friday.
Sergio Perez recently described the team’s situation as ‘critical’. Photo: AP
Sergio Perez recently described the team’s situation as ‘critical’. Photo: AP

“Within a week, or at the most two, our financial future will become more clear and, I believe, much more secure,” Szafnauer told reporters at the Hungarian Grand Prix.

Paddock observers believe that Canadian billionaire Lawrence Stroll, the father of Williams’ teenager driver Lance Stroll, is set to buy the cash-strapped outfit with an investment package that will see his son move teams.

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Szafnauer said: “I think it’s imminent. I know there’s discussions going on in the background. I’m not privy to those because it’s a shareholder issue and I’m not a shareholder.

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