Wolff: Force India’s new owners need deep pockets

Date published: July 30 2018 - Editor

Toto Wolff says there are “many potential buyers” for Force India, people with deep pockets and an understanding of how much it costs to successfully run a Formula 1 team.

Last week Force India went into administration, the process triggered by Sergio Perez amongst others.

One of those parties was Mercedes, who are reportedly owed around £9 million.

Administrator FRP Advisory are keen to ensure that it remains “business as usual” throughout the administration process as they search for a new owner for the team.

Wolff reckons they’ll find one as there are “many” interested in buying the team.

“First of all, credit must be given to Vijay [Mallya] for 10 years or so of funding the team,” he told Autosport.

“And having been not only a shareholder – the key shareholder of the team – but also having had the enthusiasm to support the team and fund it.

“Obviously things have turned more difficult for him and that has had an effect on the team.

“Now that the process has been kicked off by the administrator, there are many potential buyers with great interest, with deep pockets, [and] with an understanding of what kind of spending levels are needed in order to perform in F1.

“It’s something that is positive for the team, and for all its employees, I would say.

“[But] we have to recognise Vijay’s effort the last 10 years, we shouldn’t forget that.”

Wolff revealed that Mercedes, as Force India’s engine supplier, will be keeping a close eye on proceedings.

“A formal process has been started with administration and we have to wait and see who will bid for the assets,” he added.

“We as Mercedes are interested spectators of the process.

“We would like to understand what the funding strategy from a potential new buyer is, how it could affect the collaboration between the two teams. We aren’t there yet.”

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