Force India’s legal issues must be clarified within the next 24 hours or the team faces missing the Belgian Grand Prix this weekend.
In an unexpected turn of events, prospective buyer Lawrence Stroll has missed the two-week deadline to seal the takeover as consent from a total of 13 Indian banks is needed for the deal to be finalised.
Drinks company Diageo have also filed a lien, which is the right to keep possession of property until a debt is discharged, that relates to a loan between themselves and Dr Vijay Mallya and has also slowed down the takeover process.
In a bid to keep the takeover heading in the right direction, Stroll has bought all the assets, from cars to equipment, he has everything required for the team to go racing apart from the crucial race entry which still technically belongs to Force India.
As it stands, Force India as we know it remains in administration and has no physical assets.
The race entry has also proven to be an early sticking point in the takeover deal as Renault, McLaren and Williams had all disputed the prize money and commercial rights being transferred to Force India’s new owners.
The current FIA regulations do allow late entries to the grid, but only if a space becomes available, which it will as Force India are essentially replacing themselves.
Force India logos and references to Vijay Mallya’s companies Kingfisher and UB Group have been taken down from the paddock area ahead of the Belgian Grand Prix weekend.
— Sky Sports F1 🏎 (@SkySportsF1) August 23, 2018