Mallya denies Force India takeover rumours

Date published: June 20 2018 - Editor

Vijay Mallya’s representative has said Force India are not close to being taken over despite recent links of new ownership.

Sports drinks company Rich Energy have long been linked with a takeover of the Formula 1 team, while Michael Andretti has also emerged as a potential new owner.

Force India have cash-flow problems and asked Liberty Media for an upfront payment to get the through the winter.

But, those financial problems have not made the prospect of a takeover move any closer.

“Nothing is happening. No sale or anything of Force India,” Mallya’s representative told India’s Business Standard.

“Formula One is notorious for people wanting to buy teams. I would take it with a pinch of salt.”

Andretti Autosport, meanwhile, have neither confirmed nor denied that a takeover of Force India is on the cards.

“Andretti Autosport is a diverse motor sports property and we have many discussions about opportunities within and outside of our current portfolio,” a spokesperson told Sports Business Daily.