GPWizard F1 Forum

F1 News & Discussions => F1 Teams => Topic started by: Robem64 on May 31, 2018, 01:31:37 PM

Title: Mallya steps down?
Post by: Robem64 on May 31, 2018, 01:31:37 PM
https://www.pitpass.com/61914/Mallya-steps-down-as-director-at-Force-India (https://www.pitpass.com/61914/Mallya-steps-down-as-director-at-Force-India)
Title: Re: Mallya steps down?
Post by: cosworth151 on May 31, 2018, 03:09:35 PM
Sorry, Ali.  I hope the team does find good, stable ownership.
Title: Re: Mallya steps down?
Post by: Calman on May 31, 2018, 04:49:07 PM
No surprise on this one, we all saw it coming with his ongoing "issues".

I sincerely hope FI can move onto better and bigger things, once they have their future foundations in place.  Hopefully they can continue to be one of the "best of the rest" after the top 3 teams on the grid.

All the best,
Cal :)
Title: Re: Mallya steps down?
Post by: Scott on May 31, 2018, 06:12:57 PM
Love him or hate him, he came into the sport with a ton of skeptics and critics, and he ended up bringing the team up to the point that it was chewing on the heels of the big three.  Congratulations Mallya, ya done good. 

Financial crime is not so shocking these days, and I also don't think it's rare to come across some laundered money in F1.
Title: Re: Mallya steps down?
Post by: Calman on May 31, 2018, 08:04:43 PM
I probably could have worded my post better.   I for one salute him on the achievement of FI "mixing it" with the big boys.  By saying "move onto better and bigger things" ... I am not suggesting they are in a bad place right now, more that I hope with Malya's exit, the team don't slump too badly while they re-group!!

Clearly, Ocon is becoming a hot commodity, so should they hold onto Perez and secure a solid teammate in the future, I would love to see FI stay in "at least" mid pack on the grid.

All the best,
Cal :)

All the best,
Cal :)
Title: Re: Mallya steps down?
Post by: Jericoke on May 31, 2018, 08:07:27 PM
Live him or hate him, he came into the sport with a ton of skeptics and critics, and he ended up bringing the team up to the point that it was chewing on the heels of the big three.  Congratulations Mallya, ya done good. 

Financial crime is not so shocking these days, and I also don't think it's rare to come across some laundered money in F1.

He may not be the best guy for doing business with, but he was a very involved owner in F1.  Those are always the teams with the biggest following.
Title: Re: Mallya steps down?
Post by: Calman on May 31, 2018, 08:17:12 PM
If you watched this past video, surely you would be keen to put a paper bag over the female reporter's head? ... or in my case, provide her with a "Glasgow Kiss" ... google those two words, if you are unfamiliar with the term! ;)

I salute his calmness ...
https://www.youtube.com/watch?v=zJ6b8CPPH0Q (https://www.youtube.com/watch?v=zJ6b8CPPH0Q)

All the best,
Cal :)
Title: Re: Mallya steps down?
Post by: Robem64 on June 01, 2018, 07:43:48 AM
Ditto on the calmness Cal......I take my hat off to the man for being so controlled.
Title: Re: Mallya steps down?
Post by: Scott on June 01, 2018, 08:35:05 AM
OMG...that's nuts.  That Reform channel is really full of itself apparently.  I didn't see the colour draining out of his face like she did.  I just saw garbage spewing out of her mouth the entire time.  |-( |-( |-(
Title: Re: Mallya steps down?
Post by: Alianora La Canta on June 02, 2018, 12:16:44 PM
The reporter does not sound as if she has full command of how British courts work. Alas. Though the last F1 personality to do a Glasgow kiss did not fare particularly well from it, as Force India doubtless remembers...

It's not even as if the prosecution has a bad case (as much as it pains me to say that). But the reason the prosecution case could work is not what Republic appears to think.

As for the directorship, I think Vijay believes there is a chance he may get sent to India without much notice. If that happened while Vijay held the directorship, that could have made Force India vulnerable to prosecution for no good reason.

The team principalship (which he still holds, and presumably will continue to do until he goes to India - something I expect will happen eventually) can be transferred straightforwardly to Bob Fearnley at a moment's notice if need be and I'm not sure if Vijay is at liberty to sell off his shareholding or whether it's currently a bond against a loan Diageo made him. If it's the latter, Force India is probably safe because a "free" F1 team is not something Diageo is likely to refuse, if it comes to that! In the former case, I note that the secondary shareholder (Roy Subatra) has been in prison for years for fraud and hasn't yet been obliged to sell his shareholding. Suspect it would be the same for Vijay; the team would be sold but not until the right buyer was located.

Don't expect any change at Force India, except for one of the current directors to get more power and give us a clue as to what the succession might look like.
Title: Re: Mallya steps down?
Post by: Calman on June 18, 2018, 05:24:25 AM
The latest rumour surrounding Force India's future in F1 ...
https://beyondtheflag.com/2018/06/17/formula-1-michael-andretti-looking-purchase-force-india/

Best Regards,
Cal :)
Title: Re: Mallya steps down?
Post by: Scott on June 18, 2018, 07:20:41 AM
The latest rumour surrounding Force India's future in F1 ...
https://beyondtheflag.com/2018/06/17/formula-1-michael-andretti-looking-purchase-force-india/

Best Regards,
Cal :)

Now THAT would be interesting.  :good: :good:
Title: Re: Mallya steps down?
Post by: Jericoke on June 18, 2018, 03:36:48 PM
The latest rumour surrounding Force India's future in F1 ...
https://beyondtheflag.com/2018/06/17/formula-1-michael-andretti-looking-purchase-force-india/

Best Regards,
Cal :)

Sounds more like wishful thinking than fact based reporting.

However, if true, then Liberty is meeting their goal of growing the profile of F1 in the USA.  I would guess Andretti is still a top name when you mention 'racing' to casual fans in the USA.

If American interest continues to grow, would Ford and GM become interested again?
Title: Re: Mallya steps down?
Post by: cosworth151 on June 18, 2018, 04:19:41 PM
I'd like to see it but I'm not holding my breath over it.

Would they rename it Force Indy?
Title: Re: Mallya steps down?
Post by: Jericoke on June 18, 2018, 04:33:32 PM
Would they rename it Force Indy?

I like that, though they seem unlikely to get the Indy name.

How about Force 10 from Nazareth?
Title: Re: Mallya steps down?
Post by: cosworth151 on June 18, 2018, 05:26:42 PM
 :DD  :DD  :DD  I Like it!
Title: Re: Mallya steps down?
Post by: John S on June 18, 2018, 10:11:05 PM
Would they rename it Force Indy?

I like that, though they seem unlikely to get the Indy name.

How about Force 10 from Nazareth?

 :DD :DD :DD :DD :DD :DD  :good:

Jee...zz Jeri, that's cool.  :D

Title: Re: Mallya steps down?
Post by: Calman on July 18, 2018, 07:38:06 AM
The latest story on the Force India novel ...

https://thejudge13.com/2018/07/18/force-india-money-laundering/

I do like the irony though!! ... all this new hype of 'money laundering' and the potential new sponsor/owner "Rich Energy".

Best Regards,
Cal :)
Title: Re: Mallya steps down?
Post by: Alianora La Canta on July 23, 2018, 01:36:28 AM
The latest story on the Force India novel ...

https://thejudge13.com/2018/07/18/force-india-money-laundering/

I do like the irony though!! ... all this new hype of 'money laundering' and the potential new sponsor/owner "Rich Energy".

Best Regards,
Cal :)

Who, even more ironically, has been rejected as a bidder because they are not rich (as I understand the rumour mill). There is at least one other bidder that is more serious, but from what I gather it's managed to keep its name completely hidden from the rumour-spreaders thus far.

Don't expect any of these bids to work, for two reasons:

1) Vijay thinks that if he can hold the team for another 2 1/2 years, everything's going to get much easier thanks to a minimum 10% boost to the budget (via scrapping CCB payments) and budget caps making it more difficult for some rivals (not all) to spend so much money.

2) It's not 100% clear if Force India is in the $2 bn securities offered to the Indian courts for repaying Vijay's debts. If it is, then none of these bids will work, because whoever is managing the securities on behalf of what seems like half the bailiffs in India gets that call. In theory, Force India could get nationalised by the nation of that name because most of the major creditors are states or state-run entities within India.

(I've heard the money-laundering charge, but it's about $6 m, and is therefore a drop in the ocean even in relation to the securities already deposited even if proven. I haven't heard enough to comment on whether that one is plausible or not).
Title: Re: Mallya steps down?
Post by: Jericoke on July 23, 2018, 02:15:38 AM
In theory, Force India could get nationalised by the nation of that name because most of the major creditors are states or state-run entities within India.


While I don't forsee this actually happening, how cool would it be for a large country like India to have to appoint a 'Minister for Motorsport' who comes and sits at the pit wall?
Title: Re: Mallya steps down?
Post by: John S on July 23, 2018, 06:21:14 PM
In theory, Force India could get nationalised by the nation of that name because most of the major creditors are states or state-run entities within India.


While I don't forsee this actually happening, how cool would it be for a large country like India to have to appoint a 'Minister for Motorsport' who comes and sits at the pit wall?


Would he bring one of the Hindu Gods with him as well?  :D :D 
Title: Re: Mallya steps down?
Post by: Alianora La Canta on July 24, 2018, 12:25:32 AM
In theory, Force India could get nationalised by the nation of that name because most of the major creditors are states or state-run entities within India.


While I don't forsee this actually happening, how cool would it be for a large country like India to have to appoint a 'Minister for Motorsport' who comes and sits at the pit wall?

Especially if said minister then had to explain why motorsport is still taxed as an entertainment in India and not as a sport, when the latter would clearly benefit the running of their department!
Title: Re: Mallya steps down?
Post by: lkjohnson1950 on July 25, 2018, 04:48:54 AM
Here's the latest wild rumor: Lance Stroll's father has bought Force India and Lance will switch teams.   :o

https://www.gptours.com/mobile_news.php?command=show&what=news&id=21270 (https://www.gptours.com/mobile_news.php?command=show&what=news&id=21270)
Title: Re: Mallya steps down?
Post by: guest3164 on July 25, 2018, 08:12:23 AM
Whilst I would worry about Force India's mid-term future if that happened (ie, when the Stroll's lose interest), from a Williams point of view I would love this to happen and for the Stroll circus to move on.  Lance hasn't pushed on as I hoped/expected, regardless of the diabolical car he has this year. 
Title: Re: Mallya steps down?
Post by: Jericoke on July 25, 2018, 03:43:28 PM
Here's the latest wild rumor: Lance Stroll's father has bought Force India and Lance will switch teams.   :o

https://www.gptours.com/mobile_news.php?command=show&what=news&id=21270 (https://www.gptours.com/mobile_news.php?command=show&what=news&id=21270)

You think team orders at Ferrari or Mercedes are bad... could you imagine knocking the boss's kid out of a race?
Title: Re: Mallya steps down?
Post by: John S on July 25, 2018, 03:59:16 PM
Here's the latest wild rumor: Lance Stroll's father has bought Force India and Lance will switch teams.   :o

https://www.gptours.com/mobile_news.php?command=show&what=news&id=21270 (https://www.gptours.com/mobile_news.php?command=show&what=news&id=21270)

You think team orders at Ferrari or Mercedes are bad... could you imagine knocking the boss's kid out of a race?


That's why Ocon has to go, he's likely to try the wheel banging, late dives and blocking he used on Checo in his first season.  :D


 
Title: Re: Mallya steps down?
Post by: guest3164 on July 27, 2018, 09:45:12 PM
Apparently Force India have gone into administration, brought about largely due to Sergio Perez bringing proceedings against them over an unpaid debt of around £3m ($4m). 
Title: Re: Mallya steps down?
Post by: Robem64 on July 28, 2018, 07:57:33 AM
Confirmed
https://www.bbc.co.uk/sport/formula1/44984140 (https://www.bbc.co.uk/sport/formula1/44984140)
Title: Re: Mallya steps down?
Post by: John S on July 28, 2018, 11:33:50 AM
Apparently Force India have gone into administration, brought about largely due to Sergio Perez bringing proceedings against them over an unpaid debt of around £3m ($4m).


You'd think FIF1 would know better than to screw with the driver bringing big sponsor bucks to the team?  :crazy:

We've seen before that drivers of a team can be last in the queue when money is tight.  :(

Title: Re: Mallya steps down?
Post by: Robem64 on July 28, 2018, 09:26:35 PM
Sounds like this action taken by Perez was suggested by the team to protect them and force a sale.
Title: Re: Mallya steps down?
Post by: lkjohnson1950 on July 28, 2018, 09:44:32 PM
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/ (https://www.racefans.net/2018/07/28/heartbroken-perez-says-force-india-f1-legal-case-was-save-team/)
Title: Re: Mallya steps down?
Post by: Dare on July 29, 2018, 03:56:00 AM
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
Title: Re: Mallya steps down?
Post by: guest3164 on July 29, 2018, 08:10:46 AM
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. 
Title: Re: Mallya steps down?
Post by: Scott on July 29, 2018, 11:11:32 AM
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:
Title: Re: Mallya steps down?
Post by: John S on July 29, 2018, 12:58:01 PM
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.  ;)
Title: Re: Mallya steps down?
Post by: lkjohnson1950 on July 31, 2018, 05:48:46 PM
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 (https://www.gptours.com/mobile_news.php?command=show&what=news&id=21306)
Title: Re: Mallya steps down?
Post by: guest3164 on July 31, 2018, 06:23:10 PM
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.
Title: Re: Mallya steps down?
Post by: Jericoke on July 31, 2018, 08:20:37 PM
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 (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.
Title: Re: Mallya steps down?
Post by: cosworth151 on July 31, 2018, 08:53:58 PM
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.
Title: Re: Mallya steps down?
Post by: John S on July 31, 2018, 09:52:43 PM
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.     
Title: Re: Mallya steps down?
Post by: guest3164 on August 07, 2018, 09:02:37 PM
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:
Title: Re: Mallya steps down?
Post by: John S on August 09, 2018, 09:41:54 AM
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.  ;)
Title: Re: Mallya steps down?
Post by: guest3164 on August 09, 2018, 06:32:58 PM
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).   
Title: Re: Mallya steps down?
Post by: Scott on August 09, 2018, 06:42:15 PM
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.
Title: Re: Mallya steps down?
Post by: lkjohnson1950 on August 09, 2018, 06:53:02 PM
There is a rumor of Sainz to McLaren for Vandoorne.
Title: Re: Mallya steps down?
Post by: Scott on August 09, 2018, 06:59:49 PM
Not a bad move...keeps Renault engines anyway.  I just hope McLaren picks it up in the chassis department.
Title: Re: Mallya steps down?
Post by: Alianora La Canta on August 12, 2018, 10:22:44 AM
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.

Williams and McLaren also get extra money for being old teams - even Williams' £10 m bonus CCB payment would have covered the £4 m initially cited in the administration document.

Also, it's not clear that either team does keep a 100% within-budget system. It's just that because both have much bigger budgets in the first place, an overspill of a set amount is less of an issue for them because they have more leverage to quietly sort it out without resorting to administration and the like.

Williams does at least have its share system to stop it going too far into the red, but McLaren really doesn't have anything to prevent its getting completely indebted. Also remember that Mercedes went $74 m over-budget last year, so complete indebtedness is happening all through the field. The difference is that Mercedes' debts are to internal debtors in other parts of the team, so the board will cover it (I believe McLaren has a similar situation to a rather lower extent). Williams (mostly) and Force India (entirely) don't have those options as they are mostly/wholly the F1 team.

Williams can't afford to not object as its own liquidity is in danger if the Strolls move their money. McLaren is objecting because it expects to be beating Force India and even now, often isn't. Plus McLaren worries about Mercedes having too much influence over too many rivals (there is some proxy fighting going on between engine manufacturers).

I'm expecting Kubica at Williams, unless he's outbid, and that gladdens my heart because Williams deserves an actual, proper racing driver (for all my gratitude to the Strolls, I have trouble calling Lance a proper racing driver so much as a "Professional F1 Driver" who goes through the actions required of a racing driver but doesn't really race. And Sirotkin has not shown himself to be an improvement over Stroll).

I expect that Perez will be the other driver, in gratitude for his help in ensuring there was a team for Stroll to race at. What this means for Ocon is difficult to read at this juncture.
Title: Re: Mallya steps down?
Post by: Calman on August 23, 2018, 04:53:43 AM
Latest headline surrounding Force India ...

http://www.thedrive.com/accelerator/23080/report-force-india-f1-team-might-not-race-belgian-grand-prix

Best Regards,
Cal :)
Title: Re: Mallya steps down?
Post by: Scott on August 23, 2018, 06:07:31 AM
That would be such a shame and ultimately proof that there are too many lawyers involved in the sport.  Anyone with sense would say go and race and sort out the legalities later.
Title: Re: Mallya steps down?
Post by: Calman on August 23, 2018, 06:51:16 AM
That would be such a shame and ultimately proof that there are too many lawyers involved in the sport.  Anyone with sense would say go and race and sort out the legalities later.

 ... not too mention it, but it also screws up the crew involved in our F1 Dream Team 2018 - so I can expect fist banging, as I work on a 48hr solution for the players with FI, Perez or Ocon to "re-pick" and the summer break, OH JOY!!!

Seriously though, ... and so say all of us!!! ... let those hard working guys see the reward of their efforts and let the pink panther join the race.  Then the pens and pinstripe suits can sort out the legal/financial crap later.

Best Regards,
Cal :)
Title: Re: Mallya steps down?
Post by: Alianora La Canta on August 23, 2018, 06:58:21 AM
That's largely the point - the Indian lawyers who froze the Force India holding company as part of Mallya's assets are not racers and are disinclined to do anything that helps Mallya out without going through the legally-binding forms.

Of course, if Vijay had conducted his airline properly, the sale would have been nice and straightforward and I wouldn't have to contemplate my favourite team technically ceasing to exist.

I want Force India to be able to race in Spa. I'm even willing for the team to be technically ceased if it means the actual existing team gets to race here and in the future.
Title: Re: Mallya steps down?
Post by: Calman on August 23, 2018, 07:21:26 AM
Latest quote from Motorsport.com 9 hours ago ...

"It’s understood that the team may be allowed by the FIA to run under its usual name and identity at Spa, if the situation with the new entry cannot be resolved in time."

Best Regards,
Cal :)
Title: Re: Mallya steps down?
Post by: John S on August 23, 2018, 11:07:09 AM
All I can say is that the Indian Lawyers are either the most vindictive pratts or just plain lazy to not understand that the worth of the racing team is in being able to continue racing.

If their intransigence results in either no enrty at Spa, (which I doubt as FIA & FOM are commited to keep FIF1 on the grid), or the new buyers lose the FOM income for this and subsequent years, I hope the new buyers refuse to hand over any monies due to Mallya, Roy or any Indian tax collector without dragging it all the way through the British courts.

 
Title: Re: Mallya steps down?
Post by: Jericoke on August 23, 2018, 02:21:55 PM
Wait, Stroll bought the physical assets, but not the FIA entry?  How did that even happen?

It does create a bit of a legal headache for the FIA, they can't just let anyone with an F1 car show up and race, that would invalidate Concorde.

Further, even if the FIA does allow Force Stroll (or whatever) to race, and someone is injured, would insurance cover it?  Fans, regulators, suppliers and creditors understand that the team needs to race, but insurance companies are famously not very understanding.
Title: Re: Mallya steps down?
Post by: guest3164 on August 23, 2018, 02:27:54 PM
I guess the FIA could very quickly open up tenders for a new team, let Stroll apply and pay for a slot on the grid and get it sorted by the weekend.  It would be complicated, but possible. 

Administration just covered the tangible assets of which the slot on the grid is not technically one, which is a daft concept. 
Title: Re: Mallya steps down?
Post by: Alianora La Canta on August 23, 2018, 03:50:01 PM
All I can say is that the Indian Lawyers are either the most vindictive pratts or just plain lazy to not understand that the worth of the racing team is in being able to continue racing.

They're bound by particular laws that restrict how frozen assets can be handled. They need a separate court case or injunction to unfreeze them, and they are on bad terms with Vijay Mallya because he fled to the UK and couldn't return to India if he wanted to without the permission of a UK court (as his passport is invalid and India can't issue an unrestricted one due to the current case). If Vijay had been in a position to swap out some of his other assets for the holding company, this might have stood a chance, but it's not clear if he even has sufficiently valuable assets, or if the proceedings to do the swapover could be done sufficiently quickly (India has a fairly impressive court case backlog, enough to rival Italy's, which is part of the reason why Vijay's case is nine years old).

They know the value of the team - they may even over-value it.

Stroll bought the physical assets because even as a new team, Force India's sheer strength makes it worth the costs. The FIA has complete freedom to accept or reject the request. It's not in the window for a tender request, so it is entitled under Concorde to use whatever principles it wishes to accept or reject the new team, under whichever terms or timeframes it wants. This will almost certainly include an increased entry fee due to the extra administration (I'd be impressed if it was kept as cheap as "a full season's fee even though actually you're only doing less than half of the year"). This would not be refundable in the event that the freeze was thawed, the holding company reunited with the rest of the company in time for Monza and the FIA/teams accepting the situation. Tenders do not need to be opened for this.

The FIA is probably inclined to accept in this case because it's clear that this company can fund the team independently for a significant length of time if necessary (the situation the FIA rule is designed to ensure). Participation at Spa under "the usual identity" does not prejudice the FIA's consideration of the Strolls in any way, shape or form (at least not in theory). If the FIA allows the team in, then the team must have valid insurance (it's one of the entry requirements), so there would be coverage if someone got injured.

The slot on the grid is attached to the holding company and by F1's rules cannot be separated from it. The holding company is stuck under an Indian company freeze, which is why the asset-only sale couldn't include it.
Title: Re: Mallya steps down?
Post by: guest3164 on August 23, 2018, 06:41:53 PM
So they will race this weekend. 

Racing Point Force India have been granted a slot on the grid by the FIA

https://www.autosport.com/f1/news/138205/new-racing-point-force-india-team-granted-entry (https://www.autosport.com/f1/news/138205/new-racing-point-force-india-team-granted-entry)
Title: Re: Mallya steps down?
Post by: John S on August 23, 2018, 07:23:39 PM

Seems Stroll and his investors factored in the loss of points and probable loss of income from FOM, I'm sure they're all still haggling over it though.

Also looks like they've screwed the Indian authorities as the previous entry has been cancelled and a new one granted to the new owners, the old holding company will now be as worthless as Mallya's promises.


 
Title: Re: Mallya steps down?
Post by: Jericoke on August 23, 2018, 08:08:22 PM
So Racing Point might finish behind Force India in the standings?  Or are Force India's points being removed from the standings?
Title: Re: Mallya steps down?
Post by: Calman on August 23, 2018, 11:18:40 PM
So, the next part of the Force India Jigsaw .... does Lance Stroll jump from Williams before the end of the season? .. and what happens to Ocon??  (another Dream Team disaster waiting to happen!!).

I think it would be a sin if Ocon doesn't have a drive in 2019, as he is too good to end up like so many before him (and they are "mainly" the drivers who didn't shine bright enough in a short timeline - personally, I think Ocon is talented and given the right equipment, could challenge the "big boys").

Best Regards,
Cal :)
Title: Re: Mallya steps down?
Post by: guest3164 on August 24, 2018, 07:32:05 AM
Please Racing Point, take Stroll now.  I implore Lawrence to take his son post haste to his new team!  I think I could take solace in seeing Ocon move the opposite way but would be highly contented should it be Kubica who drives in the second Williams. 

But please Lawrence, do the decent thing! 
Title: Re: Mallya steps down?
Post by: John S on August 24, 2018, 10:03:28 AM
So Racing Point might finish behind Force India in the standings?  Or are Force India's points being removed from the standings?


I guess they are, this is from an official press release from the FIA :-

"Following a disciplinary investigation and prosecution by the FIA under Article 4 of the FIA’s Judicial and Disciplinary Rules, the Sahara Force India F1 Team has accepted its exclusion from the 2018 FIA Formula One World Championship with immediate effect, due to its incapacity to comply with Article 8.2 of the Sporting Regulations moving forward, and forfeits all Constructors Championship points under Article 6.2."


I think the old Sahara Force india team simply cannot guarantee to provide 2 cars to the grid for the remaining races, so failing in their obligation under article 8.2 (f).
Title: Re: Mallya steps down?
Post by: Jericoke on August 24, 2018, 03:23:45 PM
Please Racing Point, take Stroll now.  I implore Lawrence to take his son post haste to his new team!  I think I could take solace in seeing Ocon move the opposite way but would be highly contented should it be Kubica who drives in the second Williams. 

But please Lawrence, do the decent thing!

Love your idea in theory, but if Lance doesn't finish his season at Williams, does Lawrence still have to pay?
Title: Re: Mallya steps down?
Post by: cosworth151 on August 24, 2018, 03:30:39 PM
I have one big worry about this whole deal. What will happen to the team when Lance's F1 career finally does go down the drain?
Title: Re: Mallya steps down?
Post by: Alianora La Canta on August 24, 2018, 04:09:04 PM
Maybe Mazepin might be ready to be a F1 driver by then? Or, you know, someone with a longer-term plan...
Title: Re: Mallya steps down?
Post by: Jericoke on August 24, 2018, 07:49:51 PM
I have one big worry about this whole deal. What will happen to the team when Lance's F1 career finally does go down the drain?

Maybe the same thing that happened to British American Racing... three owners and multiple championships?
SimplePortal 2.3.6 © 2008-2014, SimplePortal
Menu Editor Pro 1.0 | Copyright 2013, Matthew Kerle