Force India: Crisis Rumors Without Basis According to Fernley

If Force India experienced a mixed 2012 season, during which they did score forty more points than in /f1/actualite/11643-sahara-india-pariwar-acquiere-425-de-force-india.html, but where they could not do better than seventh place in the constructors’ standings, Vijay Mallya, co-owner of the Indian team, had a difficult year which ended at midnight on December 31 with the loss of the flight license for his airline, Kingfisher Airlines.

Indebted to the tune of $2.5 billion according to the Center for Asia-Pacific Aviation, the Indian company had its license suspended last October while it provided additional information about the financing of its operations, which could not be done. However, the airline may regain its flight license within two years, provided, of course, that it can ensure its sustainability.

For a time, under the threat of an arrest warrant, like four of his collaborators, for issuing bad checks, the man sometimes nicknamed the “King of Good Times” also encountered financial problems with his spirits company, United Spirits, which accumulated 1.6 billion dollars of debt before being partially acquired by Diageo.

Finally, Vijay Mallya also had his private jet seized in order to settle the unpaid salaries of Kingfisher Airlines employees.

The sum of the problems thus accumulated by the Indian businessman leads Italiaracing.net to announce dark days for the Sahara Force India team: « Force India is in crisis. Indeed, according to some rumors, the English team would be at a crossroads. […] In recent days, in London, Bernie Ecclestone is said to have activated a plan to save the team. » According to the Italian site, the names of Colin Kolles and Flavio Briatore would be circulating to take over the destiny of the Indian team with the ambition of finding a buyer, as has been done in the past, during the time of Jordan and, more recently, with HRT.

Robert Fernley, deputy director of the Sahara Force India team, however denies the alleged difficulties of the team: « There is absolutely no basis for this. Our shareholders, Vijay Mallya and Sahara, are incredibly solid. They do not need partners. As we speak, we are assembling and setting up an expansion program which Vijay spoke about at the end of last year, and all of this is progressing. Over the past four years, and for the upcoming fifth, the team has been funded without any reliance on the companies owned by the shareholders. »

Robert Fernley, who omits, however, that most of the team’s current sponsors are tied to its owners (Kingfisher, Vladivar, Royal Challenge, White and Mackay, Sahara, etc.), also claims that the team can continue to exist without being affected by the problems faced by Vijay Mallya. It should indeed be noted that since October, Vijay Mallya is no longer the sole master on board, the Sahara India Pariwar group having acquired 42.5% of the team’s shares. And Robert Fernley assures: « We have not had any discussions with buyers at all. »