Force India in administration: 3 teams oppose takeover

Perez I took painful action to save Force India			Image by Dunbar  LAT

Mercedes is keen for the team to end up in the hands of new approved owners who can continue to operate it successfully in the long term.

The Force India Formula One team said today that they feel no animosity towards leading driver Sergio Perez for taking legal action that led to them going into administration.

On the track at the Hungaroring, Force India endured their worst qualifying session of the season in a changeable wet conditions and Perez and team-mate Esteban Ocon will line up in 19th and 18th positions respectively for Sunday's race which begins at 2.10pm.

Force India went into administration following a High Court hearing in London on Friday evening. But one of the creditors had already prepared a petition, and if it was filed, the team would simply be closed.

After qualifying, Perez said his actions were taken with the team's interests at heart.

"As a result, the team is now in the hands of an administrator who can sell the team and save jobs of the 400 incredible people that work at the team".

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"It's something that is positive for the team, and for all its employees, I would say".

According to a report by ESPN, the joint "Administrator" that has been appointed, Geoff Rowley said, "We shall be engaging with key stakeholders on an urgent basis to secure the best outcome for creditors".

The last major F1 team sale, that of Sauber, went through painlessly and with no involvement from rivals because it remained the same entity and the name didn't change.

He told reporters at the Hungarian Grand Prix that he had endured a month of emotional and mental hell and his racing had suffered because of the team's precarious financial situation. However, he mentioned that the decision exclusively lies in the hands of administrators to decide for the team's betterment and best long-term prospect.

"We would like to understand what the funding strategy going forward from a potential new buyer is, how it could affect the collaboration between the two teams".

"Hopefully it will be solved soon and we'll get back to operating in the normal manner that we are used to".

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