News On F1 - Formula 1 News, Results, Information and Statistics

Formula 1 Store
F1 Tickets, Tours, Gear
F1 Books
& Biographies

Force India to lose co-owner, title sponsor Sahara


Formula 1 News - February, 2016

F1 Merchandise
Main Page
Formula 1 News
2016 F1 Schedule
2016 F1 Line-up
2015 F1 Results
F1 Teams
F1 Drivers
10 'n' Pole
Register - Submit
F1 Regulations
The Forums
Live F1 Coverage
Motorsport Shop
UK - USA
Motorsport Calendar

F1 Merchandise UK
F1 Merchandise USA

F1 Tours
F1 Tickets
F1 Diecast
F1 Videos
F1 Games
F1 Trivia
NewsOnF1 on Twitter
MotoGP Tickets
Past Formula 1 Seasons
2014 F1 Results
2013 F1 Results
2012 F1 Results
2011 F1 Results
2010 F1 Results
2009 F1 Results
2008 F1 Results
2007 F1 Results
2006 F1 Results
2005 F1 Results
2004 F1 Results
2003 F1 Results

2002 F1 Results

2001 F1 Results

2000 F1 Results

1999 F1 Results

1998 F1 Results

1997 F1 Results
Links
Translate
Search
Contact Us
About
Archives
Your Say
Diagnosis & Prognosis
By the Heretic
Controversy Corner
The Real Race
By the Quali-flyer
F1 Testing
F1 Team Reports
8 'n' Pole
2010 World Cup
2006 World Cup


Feb.3 (GMM) Force India looks set to lose its major co-owner and title sponsor Sahara.

The Indian conglomerate Sahara's chief, Subrata Roy, has been in a Delhi jail since 2014, and local reports say he is desperately trying to raise the money for bail.

The Times of India says Sahara on Tuesday asked the supreme court for permission to sell its 42.5 per cent stake in Silverstone based Force India.

"As of now, we have sought the supreme court's permission to sell our various assets and that includes our shares in the formula one team," a Sahara legal source told the Press Trust of India.

"Depending on how much we raise from other assets, we will decide the percentage of Force India shares we want to sell," the source added.

Force India's other 42.5 per cent co-owner is Vijay Mallya, while the remaining 15 per cent is held by the Dutch businessman Michiel Mol.

The report said Roy, jailed for failing to pay back investors, paid $100 million for the stake in 2011.

Lawyers said Sahara is also trying to sell two hotels and four aircraft, but the judge scoffed at Roy's recent efforts to raise money.

"Nothing has happened in the last few months except a book being released," he said. "Not a single penny has been deposited by Sahara with Sebi (the Indian securities and exchange board)."

comments powered by Disqus
If you are using Internet Explorer, make sure you set your document mode to IE 8 (Alt+8) or via F12 to see and add comments

10 'n' Pole Formula 1 Tipping Competition - Have fun and win - Register

Latest Formula 1 News Headlines
09 Aug: F1 should start 2021 engine planning now - officials Comments
09 Aug: F1's Brazilian duo face uncertain future Comments
08 Aug: Bottas has Renault 'offer' - source Comments
08 Aug: Only 'good offer' would restart F1 career - Buemi Comments
08 Aug: Rosberg lacks Hamilton's 'killer instinct' - Marko Comments
08 Aug: Only new rules can stop Mercedes - Alonso Comments
08 Aug: Newey 'fully motivated again' - Horner Comments
05 Aug: Ecclestone credits Verstappen for Heineken deal Comments
05 Aug: Montezemolo struggles to hold tongue over Ferrari Comments
05 Aug: Wehrlein defends performance against Haryanto Comments
04 Aug: Ecclestone to 'sell' F1 radio coms - report Comments
04 Aug: Sirotkin in running for Renault seat - father Comments
04 Aug: Hulkenberg hails McLaren-Honda progress Comments
04 Aug: Marko plays down Kvyat axe rumours Comments
04 Aug: Renault could turn blue for 2017 - reports Comments
03 Aug: Mercedes, McLaren in dispute over engineer Comments
03 Aug: Wolff urges Renault to sign Ocon Comments
03 Aug: Lauda to help Rosberg bounce back Comments
03 Aug: Father defends Magnussen's F1 commitment Comments
03 Aug: Marchionne 'not satisfied' but staying the course Comments

The latest Formula 1 News

Back to the main news page

Back To Top


 
F1 Tickets
Chinese F1 GP
Belgian F1 GP
Singapore F1 GP
Italian F1 GP
Abu Dhabi F1 GP
US F1 GP
Few tickets still available
MotoGP Tickets
British MotoGP
Czech Republic MotoGP
San Marino MotoGP
Valencia MotoGP
more Motorsport Tours & Holidays

Official 2012 F1 Season Review

Autocourse 2012 Annual

F1 Merchandise US

F1 Merchandise UK

Formula 1 Yearbooks


Ayrton Senna

Past Formula 1 Drivers