Force India enter administration, but will compete in Hungary

Force India's French driver Esteban Ocon

Force India's French driver Esteban Ocon

Force India driver Sergio Perez says he started administration proceedings against the team to fend off a winding-up petition from another creditor.

Ocon is poised for a move to Renault next year, and the change of status for Force India is likely to free the Frenchman to move despite his current team having had an option on him for 2019.

The team asked me to do it.

The High Court in London have appointed an administrator at Force India, yet the team will still compete at this weekend's Hungarian Grand Prix.

According to Motorsport.com, in a letter to Force India employees, Mallya vowed to work with the administrators to take the team out of administration, or engage in a sale of the outfit for the best possible price.

"We got to a point where action had to be taken, to protect the 400 people who work in the team".

Perez's Mexican sponsorship has been a mainstay of the team's operations since he joined in 2014 and helps to ensure he is paid his salary. "That's what I get from the lawyers and members of the team".

Meghan, Duchess of Sussex's R68000 polo outift
She paired her ensemble with Aquazzura stilettos and complemented the outfit with a J.Crew clutch. The two snuck in a smooch at the 2017 Audi Polo Challenge back when they were dating.

"He's going through a very hard time, not just legally but also financially", said Perez. But the big picture is really different.

He added: "And with FRP and Geoff Rowley at the helm, who have tremendous experience in F1, unfortunate as the circumstances are I don't think it could be in a better position to take the next steps". I have gone through a very hard moment emotionally more than mentally.

"I'm not going through a good time at the moment".

Mercedes was among the creditors that backed Perez's legal action, and its F1 boss Toto Wolff is confident there are potential buyers capable of giving the team a new lease of life.

"Monies due are from previous year", Perez said.

Team principal and main shareholder Dr Vijay Mallya was reluctant to sell unless the terms suited him and there was a risk that the ideal buyer would walk away, but now the final decision on selling is out of his hands.

Force India chief operating officer Otmar Szafnauer said on Friday he expected the team to receive fresh investment and be on a more sound financial footing in the coming weeks.

Recommended News

  • New OLED Screen By Samsung Is Verified As Literally Unbreakable

    New OLED Screen By Samsung Is Verified As Literally Unbreakable

    This includes 26 drop tests and surviving extreme weather conditions, ranging from temperatures of 71 degrees and -32 degrees. So what better place to debut this game changing tech than in a new category of device that has a folding screen.
    Kylie Jenner Shared A Relatable Mom Tweet & Fans Are Loving It

    Kylie Jenner Shared A Relatable Mom Tweet & Fans Are Loving It

    Dwayne "The Rock" Johnson at number 6 is the lone actor in the top 10, with each of his posts valued at $650,000. In fact, the entire lifestyle influencer category on Hopper HQ is both aspirational and deeply horrifying.
    ‘Blood moon’ leaves Kenyans open-mouthed, next one in 2090

    ‘Blood moon’ leaves Kenyans open-mouthed, next one in 2090

    Mr Kirkley said that the sunrise would begin during the eclipse which would "wash out" the colours of the moon as it turned red. The fact that the moon appears so small and takes longer to pass through Earth's shadow is also why the eclipse lasts longer.
  • British voters want referendum on final Brexit deal — BREXIT

    British voters want referendum on final Brexit deal — BREXIT

    The resignations occurred just days after the prime minister secured approval from her cabinet to negotiate a "business friendly" exit from the EU.

    Arsenal, Liverpool record big wins in International Champions Cup

    Jose Mourinho's men found an equaliser minutes later thanks to Andreas Pereira, who curled home an impressive free-kick. That proved to be the final piece of goal-mouth action in the half as the sides went into the break level at 1-1.
    Fortnite Week 3 Secret Tier Battle Star Location: Road Trip Guide

    Fortnite Week 3 Secret Tier Battle Star Location: Road Trip Guide

    As always, the higher you get in the Battle Pass, the closer you'll get to some of those skins and dance emotes you're chasing. When completing challenge, do not forget to finish the game by being eliminated or getting the victory royale before leaving.
  • Joh shoots 9-under 62 at Ladies Scottish Open

    Joh shoots 9-under 62 at Ladies Scottish Open

    Things can happen at the tip of a cap. "It's kind of like, it's nice to have but, at this point, probably doesn't mean very much". But I have to say I hit a lot of fairways, too - in this condition, that was good. "I think putting was exciting today".
    Manchester United make Rebic enquiry

    Manchester United make Rebic enquiry

    Manchester United are looking to add further options upfront, having already welcomed Brazil worldwide Fred this summer for £52m. The Croatian global caught the eye of Old Trafford bigwigs during a series of impressive World Cup displays.
    Yankee Fans Hold Mid-Game Candlelight Vigil for Aaron Judge

    Yankee Fans Hold Mid-Game Candlelight Vigil for Aaron Judge

    He'll head to the disabled list and miss an estimated three weeks, though he won't require surgery. When his next plate appearance arrived an inning later, Judge was removed.
  • Google Home can now schedule routines

    Google Home can now schedule routines

    Google continues to make their Google Home devices more capable with a new update rolling out that adds scheduling to routines. You can choose the time, different days, and the speaker where the routine will trigger on automatically.
    Putin ready to go to Washington, invites Trump to visit Moscow

    Putin ready to go to Washington, invites Trump to visit Moscow

    And the strongman Russian president said he was ready for further meetings to ease tensions between Washington and Moscow. The last time Trump was in the Russian capital was in 2013, to attend a Miss Universe beauty pageant.
    Google To Provide 10m Nigerians With Free WiFi

    Google To Provide 10m Nigerians With Free WiFi

    Go maps will now provide users with turn-by-turn directions, whether they're travelling by vehicle , bus or on foot. It said it would generate cash from the service in Nigeria by placing Google adverts in the login portal.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.