Source: Force India Media

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Rival bidder for Force India critical over process

Rival bidder for Force India critical over process

21-08-2018 16:20
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Bobby Vincent

An unsuccessful rival bidder for Force India has been very critical over the process of how it all unfolded.

Lance Stroll and his consortium bought Force India and now there are doubts over how the administrators handled the negotiations.

Stroll is expected to switch from Williams to Force India over the winter period - perhaps even before.

The deal that Stroll made essentially saved Force India from administration following some extreme financial problems - to the point where they owed a lot of money to their drivers.

Russian chemical firm PJSC Uralkali - one of the companies who rivalled Stroll's consortium, believes that the arrangement made by the administrators perhaps won't be the best situation for the Force India team.

"Uralkali considers that the process conducted by the administrator may not be in the best interests of Force India creditors and other stakeholders, and the sport in general," the company stated on Tuesday.

"Both options proposed sufficient funding to satisfy claims of all creditors in full and included an undertaking to provide significant working capital and new investment program over a five-year term to ensure success of Force India."