• Thursday, March 28, 2024

Sports

Force India goes into administration

Force India currently sit fourth in the F1 team standings

By: Sarwar Alam

The Force India Formula One team went into administration, as expected, late Friday evening in London following a High Court hearing brought by a winding-up order. Deputy team principal Bob Fernley confirmed the action, telling reporters that an “administrator was appointed by the court for Force India this evening”. There was no further immediate comment from the team, which, on Friday, had said it hoped to resolve its critical cash-flow difficulties with the help of new investment, while under administration. The team’s senior driver Sergio Perez on Thursday said the situation was “critical”. The Mexican driver is reportedly owed more than four million dollars…

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