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Author Topic: Mallya steps down?  (Read 3286 times)

Offline lkjohnson1950

Re: Mallya steps down?
« Reply #30 on: July 28, 2018, 09:44:32 PM »
  • Publish
  • Perez seems to think Mallya could come out of this still in control of the team. If that's true, will Mallya still want Perez as a driver? Will any team?

    https://www.racefans.net/2018/07/28/heartbroken-perez-says-force-india-f1-legal-case-was-save-team/
    Lonny

    Offline Dare

    Re: Mallya steps down?
    « Reply #31 on: July 29, 2018, 03:56:00 AM »
  • Publish
  • Perez was hurt when he went to Mcclaren with high
    hopes only to find a dog of a car. I like Perez and hope
    he finds a team
    "The
    democracy will cease to exist when you take away from those
    who are
    willing to work and give to those who would not."
    --
    Thomas
    Jefferson

    Online Luke

    Re: Mallya steps down?
    « Reply #32 on: July 29, 2018, 08:10:46 AM »
  • Publish
  • At the very worst I imagine there is a team based at Grove that would welcome a driver with his ability and financial backing with open arms. 
    Poster formerly known as Williamsfan.

    Offline Scott

    Re: Mallya steps down?
    « Reply #33 on: July 29, 2018, 11:11:32 AM »
  • Publish
  • At the very worst I imagine there is a team based at Grove that would welcome a driver with his ability and financial backing with open arms.

    That might work!  :good:
    The Honey Badger doesn't give a...

    Offline John S

    • FIA President
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    Re: Mallya steps down?
    « Reply #34 on: July 29, 2018, 12:58:01 PM »
  • Publish
  • At the very worst I imagine there is a team based at Grove that would welcome a driver with his ability and financial backing with open arms.


    They might even pay him properly as well.  ;)
    Racing is life - everything else is just waiting. (Steve McQueen)

    Offline lkjohnson1950

    Re: Mallya steps down?
    « Reply #35 on: July 31, 2018, 05:48:46 PM »
  • Publish
  • There is some discussion as to whether FIF1 should be allowed to retain their points and prize money if the team is sold.

    https://www.gptours.com/mobile_news.php?command=show&what=news&id=21306
    Lonny

    Online Luke

    Re: Mallya steps down?
    « Reply #36 on: July 31, 2018, 06:23:10 PM »
  • Publish
  • I kind of get why teams like Williams and McLaren would object, after all they operate within their budget even if it is to the detriment of the team (as you could suggest with Williams and their pair of pay drivers).  That said, I feel sorry for Force India as I get the feeling that some kind of financial mischief has gone on beyond the team that has led to their situation.  I would rather not see them disappear but I do get why other teams object, otherwise what is to stop them going into the red to over-perform, say sorry that they cannot clear their debts, go into administration and then keep their prize money. 

    It's the rock and a hard place situation.  I really hope it is sorted as although Force India are kind of Williams main opposition (well, not this year), I really do respect them.
    Poster formerly known as Williamsfan.

    Offline Jericoke

    Re: Mallya steps down?
    « Reply #37 on: July 31, 2018, 08:20:37 PM »
  • Publish
  • There is some discussion as to whether FIF1 should be allowed to retain their points and prize money if the team is sold.

    https://www.gptours.com/mobile_news.php?command=show&what=news&id=21306

    Traditionally, when a team is purchased, according to FOM regulation, the team history goes with it.  Hence bizarre situations like BMW being neither owned, nor powered by BMW.

    If new owners are 'punished' for purchasing an F1 team, the number of people looking to take over a team is going to dry up (and it's not exactly a deep pool as it is).  It's very short sighted for a team to squelch long term investment in the sport.  After all, Williams et al are only worth something because there are other teams to race against.

    Offline cosworth151

    Re: Mallya steps down?
    « Reply #38 on: July 31, 2018, 08:53:58 PM »
  • Publish
  • The same thing happened with Jordan. The last year of "Jordan" was actually the first year of Midland. The sale took place after the deadline, so the name couldn't be changed until the next season. I wonder if something like that might end up happening here.
    “You can search the world over for the finer things, but you won't find a match for the American road and the creatures that live on it.”
    ― Bob Dylan

    Offline John S

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    Re: Mallya steps down?
    « Reply #39 on: July 31, 2018, 09:52:43 PM »
  • Publish
  • I think this is more than just someone buying the team, if by way of administration they are seeking to get rid of debt then the other teams are understandably going to resist. The team may be viewed as insolvent which will cause loss of their F1 licence and loss of rights to prize money - £150mil in FIF1's case.

    Incidentally being considered insolvent should also prevent them from taking part in races as well under the terms of Team agreements, FOM will not want that to happen as the grid is pretty small already at 20.   

    With less debt any new owner is going to be able to put more money into development, the other teams may see this as a big disadvantage to themselves.

    When BMW left F1 they paid up all their responsibilities, in the same way Honda handed over to Brawn debt free. Both manufacturers wanted to cut forward financial commitments but took care of their obligations. The naming was the least of the priorities.


    Perhaps it can also be be argued, by opponents, under FIA rules a company in administration may have lost it's legal identity, this could then lead to loss of rights to the F1 entry.

    You can't sell F1 team licences but you can sell an F1 team that holds a licence. I don't know if F1 licences are granted only to a single legal identity - ie a properly constituted registered business, or a single person/partnership - rather than a team trade name. The difference may seem academic but may make a heck of a difference in fact.     
    « Last Edit: August 01, 2018, 12:39:46 PM by John S »
    Racing is life - everything else is just waiting. (Steve McQueen)

    Online Luke

    Re: Mallya steps down?
    « Reply #40 on: August 07, 2018, 09:02:37 PM »
  • Publish
  • A Lawrence Stroll backed consortium has been approved by administrators to take over the team so Force India have come out of administration.  The bad news is they now have to race Lance Stroll  :tease:
    Poster formerly known as Williamsfan.

    Offline John S

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    Re: Mallya steps down?
    « Reply #41 on: August 09, 2018, 09:41:54 AM »
  • Publish
  • The bad news is they now have to race Lance Stroll  :tease:

    Hey you cheeky chappie you getting bored with Williams?  :tease:

    I thought you'd be pleased Lance is freeing seat at Williams - might even see Kubica  return to the grid.  ;)
    Racing is life - everything else is just waiting. (Steve McQueen)

    Online Luke

    Re: Mallya steps down?
    « Reply #42 on: August 09, 2018, 06:32:58 PM »
  • Publish
  • Hey you cheeky chappie you getting bored with Williams?  :tease:

    I thought you'd be pleased Lance is freeing seat at Williams - might even see Kubica  return to the grid.  ;)

    Ha ha, no I will be delighted to see him leave and take his dad with him  :D  He's not 'that' bad as a driver, but it is bad news for Force India that in the foreseeable, he'll be one of their drivers.  I hope to see either Kubica or one of the talented Mercedes juniors parachuted into the Williams.  Maybe Kubica this year and Russell next year (should Lance quit mid-season).   
    Poster formerly known as Williamsfan.

    Offline Scott

    Re: Mallya steps down?
    « Reply #43 on: August 09, 2018, 06:42:15 PM »
  • Publish
  • Maybe Sainz won't be the shoe-in at RBR, and he could end up at Williams.  For his sake I hope he gets on at RBR, but you never know.
    The Honey Badger doesn't give a...

    Offline lkjohnson1950

    Re: Mallya steps down?
    « Reply #44 on: August 09, 2018, 06:53:02 PM »
  • Publish
  • There is a rumor of Sainz to McLaren for Vandoorne.
    Lonny