Force India's embattled owner is experiencing "severe economic difficulties with his companies".
Jan.18 (GMM) Force India "is in crisis" and it is possible the Silverstone based team "could collapse".
That is the claim of the Italiaracing magazine, who correctly reported some years ago that Pirelli would become the sport's new tyre supplier.
Now, the Italian publication is reporting from sources that Vijay Mallya - Force India's embattled owner who has lost his billionaire status - is experiencing "severe economic difficulties with his companies".
Mallya's troubles with Kingfisher, his grounded Indian airline, are well known, but the 57-year-old also controls United Breweries, and F1 team Force India.
Italiaracing claims that, in recent days, F1 chief executive Bernie Ecclestone has "activated a plan to save the (Force India) team."
As head of HRT, Kolles left F1 at the end of 2011, a year before the Spanish team's collapse under new management.
Italiaracing also mentioned the former Renault chief and well-known Ecclestone ally Flavio Briatore, who has been out of F1 since the 'crashgate' scandal.