Motor racing-Stroll leads rescue deal for Force India F1 team

Reuters  |  LONDON 

By Alan Baldwin

They said creditors would be paid in full and all 405 jobs at the Silverstone-based team, that was co-owned by embattled Indian and finished fourth last year, were safe.

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Apart from Stroll, the investors were named as Andre Desmarais, Jonathan Dudman, John Idol, telecoms investor John McCaw Jr, and Stroll's business partner

"This outcome secures the future of the Force India team in and will allow our team of racers to compete to our full potential," said the team's

"I am delighted that we have the support of a consortium of investors who believe in us as a team and who see the considerable business potential that Force India has within F1 now and in the future."

said funding to support the team would be made available immediately with "significantly more" once the company emerged from administration.

He expected that to be within the next two to three weeks.

The team went into administration at the end of last month.

(Reporting by Alan Baldwin; editing by Ken Ferris)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 08 2018. 00:18 IST