F1: Sahara Force India Team Finds A New Owner

Billionaire Lawrence Stroll and father of Formula 1 driver Lance Stroll has reported to have bought the Sahara Force India F1 team. Stroll will be replacing its current owners Vijay Mallya, Subrata Roy and Michael Mol. Both Roy and Mallya have been embroiled in financial illegalities respectively, while the team hasn't been doing well financials, which in turn, has been affecting its performance on the grid. The news comes amidst reports that the team was going into administration, which would mean filing for a controlled bankruptcy.  That said, it's said that the purchase by Lawrence Stroll is in a bid to secure a seat for his son Lance, who will now be moving from Williams to Force India next year.

Also Read: Vijay Mallya Resigns As Force India Director

The purchase also will secure the jobs of Force India's 400 odd employees. An official announcement is yet to be made and it isn't clear yet if Stroll has purchased the team outright or has taken a large stake in the same. It also needs to be seen what the effect of the new ownership will be on the team's other motorsport activities including the Force India Academy for training young racing talent.

While the buyout will help Force India to utilise its resources and subsequently its performance in a much better way, the move will also help Lance Stroll a higher chance at securing a podium in F1. The financial constraints have been hurting the team's activities on the track losing out on the midfield development race. Force India COO Otmar Szafnauer said that a financial squeeze had slowed down the progress of new parts for the team, which made it difficult to progress in a development race.

The fact that Ferrari-powered teams like Haas and Sauber have had better results this year, had only added to the pressure on Force India. That said, the brilliant drive by both Perez and Ocon helped tie-up the team with Haas for fifth in the constructors' standings, proving that a little help and the team could certainly do better.

Also Read: Force India Could Be Rebranded As Force One

If all things fall in place, Lance Stroll will be making the switch to Force India as early as 2019, which means either Sergio Perez or Esteban Ocon will have to find a seat elsewhere. Going by recent speculations, however, Ocon is said to have found a calling with Renault, making for Stroll at Force India.

The mid-level driver's market will see some shake-up next year, as a result. Carlos Sainz, who currently drives for Renault is likely to move to McLaren in place of Stoffel Vandoorne, and alongside Fernando Alonso, if the former world champion continues to stay in F1 next year as well. The big changes are likely to happen after the summer break and we will see some major announcements from a number of teams.

Another major change will be the complete rebranding of the Force India team. Tracing its origins as the Midland F1, the team was taken over by Spyker cars and rebranded as the Spyker F1 team. In 2007, the Silverstone-based outfit was first purchased by the Vijay Mallya and Michiel Mol, and was rebranded Force India. In 2011, Sahara India's Subrata Roy bought a 42.5 per cent stake in the team.

With Indian owners no more in the picture, it'll be safe to say that the Force India name will be running for the last time this season. The team was looking at a more globally friendly team name, not only to attract a wider audience base, but sponsorship as well. That said, the current list of sponsors could continue with the newly branded team as well including BWT and Rich Energy and the most latest being Havaianas.