India’s Formula One team Force India might soon be sold to British energy drinks company Rich Energy for around £200 million (Rs 1806 crore) according to a report in the Daily Mail.
Force India finished fourth in last year’s Constructors’ Championship and the team’s drivers, Mexican Sergio Perez and France’s Esteban Ocon, finished seventh and eighth respectively in the Drivers’ Championship last season. The team is now established as one of the best teams outside the powerhouses in Ferrari, Mercedes and Red Bull.
However, the team is being sold as owner Vijay Mallya fighting extradition back to India amid allegations of money laundering. A report in the Sun added that Mallya is looking to sell as the legal battles have resulted in his reduced attention towards the team.
Rich Energy was founded by William Storey and the company already has a presence in the Formula One circuit, including a tie-up with the popular Monaco Grand Prix. It also supplies drinks for West Ham United Ladies and Hilton Hotels. The reports add that Rich Energy will lead a consortium in the attempted takeover of Force India and talks are already advancing.
If the takeover is successful, it would make them just the second British-owned F1 team, joining nine-time champions Williams. A report in Planet F1 added the fact that Force India are the last team to confirm any details about their new car launch ahead of the upcoming season as they prepare to go under a name change.
Rich Energy and Force India have both reportedly declined to comment on the deal.