The Force India Formula 1 team could miss out at this weekend's Belgian Grand Prix unless the team's legal status is clarified. The company went into administration before last month's Hungarian Grand Prix, with FRP Advisory appointed to administer the team.
A consortium led by Canadian businessman Lawrence Stroll bought the team and took it out of administration over the summer break, saving the jobs of over 400 people. However, due to legal issues regarding the majority shareholders Vijay Mallya and Subrata Roy, consent from 13 Indian creditor banks was needed to close the sale of the company.
That consent was not received on time, meaning the sale was completed as an "asset sale" basis, rather than a "going concern". This means that the squad must now race as an entirely fresh entity.
The company that went into administration, Force India Limited, holds the entry for Sahara Force India. However, the Stroll-led consortium owns all the hardware, including the cars.
The FIA is understood to be assessing the legal entanglements of the situation, and is expected to issue a statement soon. With less than 48 hours until the first free practice session gets underway in Belgium, the team is in a race against time to clarify its situation.
Circuit de Catalunya - Winter testing
Bahrain International Circuit - Winter testing
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