Force India set to lose co-partner Sahara


Force India is set to lose Sahara as one of its partners, with the Indian conglomerate now planning to sell its stake in the Formula 1 team.

The Sahara India Pariwar's founder and chairman Subrata Roy has been in jail since March 2014 due to a long-running investor fraud case back in India.

In order to raise money that must be repaid to investors, the company approached the Supreme Court of India to sell assets - including its F1 stake, along with several hotels and four of its aircraft.

The total value to be raised by the sale of the F1 shares, hotels, and aircraft is approx $441 million or Rs. 3,000 crores.

Sahara had purchased 42.5 percent of shares in Force India back in 2011, worth $100 million, with team principal Vijay Mallya owning 42.5 percent and the Mol family keeping the remaining 15 percent.

Last year, the Sahara branding was often replaced by Telcel and Claro branding on the side of the car.

Should Sahara sell its stake, the Silverstone-based team could undergo a change in name for 2016.

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About this article
Series Formula 1
Teams Force India
Article type Breaking news
Tags sahara