Connect with us

Uncategorized

Force India rejects financial trouble reports

Published

on

Sahara Force India deputy team boss Bob Fernley has rejected latest some reports that team could be under financial trouble; he says ‘there is absolutely no substance’.

Italian media reports that Force India team boss Vijay Mallya struggling with financial problem and his airline company Kingfisher under financial problem, and also team failing to produce a profit since its launch in 2005. Also the media reports its trouble could see the Silverstone based squad undergo severe difficulties during this season.

“There is absolutely no substance to it, our shareholder Vijay and Sahara are incredibly strong,” he said. “They don’t need partners.” Deputy team boss Bob Fernley told Autosport.

“As we speak, we are putting together and implementing an expansion programme that Vijay talked about at the end of last year.

“And all that is going ahead and moving forward. For the last four years, coming now to our fifth year, the team has been financed without any dependence on the shareholders’ companies that they own.

“There is absolutely no substance to it anywhere and that’s the thing that’s very distressing.”

The reporter, when asked if the team can continue unaffected by problems with Mallya’s companies, Fernely said: “Correct. And it does.”

Bob Fernley also rejects the team not looking to any possible buyers. “We have had no discussions whatsoever with any buyers at all,” he said.


http://www.formula1onlive.com/feeds/posts/default?alt=rss
Advertisement
Click to comment




2018 F1 Launch




Most Popular

ThisisF1.com is not affiliated with Formula 1, Formula One Management, Formula One Administration, Formula One Licensing BV, Formula One World Championship Ltd or any other organization or entity associated with the official Formula One governing organizations or their shareholders. Copyrighted material used under Fair Use/Fair Comment. All Rights Reserved © 2017 Prime Sport Media