Formula 1: Racing Point UK Limited acquires Force India Formula One Team

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Esteban Ocon (FRA) Sahara Force India F1 VJM11. Monaco Grand Prix, Sunday 27th May 2018. Monte Carlo, Monaco. | Photo Force India
Este­ban Ocon (FRA) Sahara Force India F1 VJM11. Mona­co Grand Prix, Sun­day 27th May 2018. Monte Car­lo, Mona­co. | Pho­to Force India

Rac­ing Point Force India F1 Team will make its debut at this weekend’s Bel­gian Grand Prix fol­low­ing the acqui­si­tion of the Force India For­mu­la One Team by Rac­ing Point UK Lim­it­ed. The new own­er­ship was finalised on Thurs­day 16th of August with a con­sor­tium of investors led by Lawrence Stroll agree­ing terms to secure the future of the team.

The investors are Cana­di­an entre­pre­neur Andre Des­marais, Jonathan Dud­man of Mona­co Sports and Man­age­ment, fash­ion busi­ness leader John Idol, telecom­mu­ni­ca­tions investor John McCaw Jr, finan­cial expert Michael de Pic­ciot­to, busi­ness­man Lawrence Stroll and his busi­ness part­ner Silas Chou.

Rac­ing Point UK Lim­it­ed has appoint­ed Otmar Szaf­nauer as Team Prin­ci­pal and CEO with imme­di­ate effect. Otmar has been with Force India since 2010 as Chief Oper­at­ing Offi­cer and has played a piv­otal role in the team’s progress up the grid.

The team’s Deputy Team Prin­ci­pal, Robert Fern­ley, will stand down from his role. The remain­der of the senior man­age­ment team remains unchanged.

For the rest of the 2018 sea­son the cars will com­pete as Rac­ing Point Force India F1 Team in pink, white and blue.

Lawrence Stroll:On Mon­day I stood in front of the work­force at Sil­ver­stone and Brack­ley and applaud­ed the achieve­ments of this team in recent years. The strength of any com­pa­ny is the peo­ple that make it up and it’s a huge priv­i­lege to begin this excit­ing new jour­ney with such a tal­ent­ed group of men and women. I’ve been for­tu­nate to estab­lish and grow a num­ber of suc­cess­ful busi­ness­es, but the oppor­tu­ni­ty to take this team for­ward to the next lev­el is per­haps the most excit­ing chal­lenge yet. Togeth­er with my fel­low share­hold­ers, we will invest in new resources and bring fresh ener­gy to empow­er the work­force to con­tin­ue rac­ing at the very high­est lev­el. We are all pas­sion­ate about motor rac­ing; we recog­nise the rac­ers’ spir­it in Force India, and we are extreme­ly moti­vat­ed to make this team even more spe­cial in the years ahead.

Otmar Szaf­nauer, Team Prin­ci­pal and CEO:As we return from the sum­mer break and pre­pare for the upcom­ing Bel­gian Grand Prix, I want to thank all the staff for their resolve and loy­al­ty dur­ing the peri­od of tran­si­tion. Now that we are under new own­er­ship and the future of the team is secure, we can focus on doing what we do best – going rac­ing. We have a great man­age­ment team in place and this sta­bil­i­ty will be extreme­ly valu­able as we begin the new era. I would like to thank Bob Fern­ley for his con­tri­bu­tion to the suc­cess of this team over the last ten years and recog­nise the sup­port of the pre­vi­ous share­hold­ers for mak­ing Force India what it is today.”

Force India na Jlpress

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