Lawrence Stroll targets third place with Force India

Force India owner Lawrence Stroll is targetting third place with his new team next season, and believes they can truly fight for it.

The Canadian businessman rescued Force India from administration in August believes that it is a "good business opportunity" and a good chance to give his son a competitive F1 package.

Stroll's son, Lance was confirmed on Friday as the new Force India driver; replacing Esteban Ocon.

"I'm not in this for ego," Lawrence Stroll said to The New York Times. "I'm not in this to lose money. I'm in this for the long term, as I have been with every other business I've owner, be it Tommy Hilfiger, Michael Kors or whoever."

Stroll also said that there's "no reason" they shouldn't be at least fighting for Red Bull's third place next season.

"No reason we shouldn't have high expectations, to hopefully be fighting for that third place," Stroll senior said.

Lawrence Stroll also revealed that he assessed Liberty Media's ownership of Formula One, before making any conclusive decisions about purchasing Force India.

"It's no secret there's going to be some sort of a budget cap and better cash distribution to the smaller teams," Stroll continued. "That is still to be clarified how well that works out, but there are all the right rumblings, and I've had enough conversations with Chase (Carey, F1 chairman) to understand that is the direction they want and need to take the business.