Business of Sport

Sahara invest in Force India

2011-10-13 14:19
Force India
London - Indian business Sahara has announced a deal to buy a large stake in the Force India Formula 1 team, with the company set to invest $100m (R784m) for a 42.5% stake – resulting in a co-ownership with the team's co-founder Vijay Mallya, who will remain team principal.

A company statement said that the money will be used to invest in new technology to improve performance.

Sahara has a number of sporting interests and sponsors the Indian national cricket team.

Company chairman Subrata Roy Sahara said: “Formula 1 car racing has always remained the bastion of the western world.

“The advent of India in this exciting sport has remained a matter of pride for all our countrymen. I feel doubly proud that Sahara is the co-owner of India's only Formula 1 team and I am sure that through Sahara Force India, we will together bring pride and laurels to our beloved nation.”

The Moll family from the Netherlands, which helped found the team with Mr Mallya, will hold the remaining 15% stake.
 

Read more on:    formula 1
NEXT ON SPORT24X

What To Read Next

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

Live scoring

 
 
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Sport24 on Twitter

Follow Sport24 news on Twitter

Featured

With the Absa Premiership in full swing, who will be crowned champions when all is said and done? Will Mamelodi Sundowns defend their title? Or can Kaizer Chiefs, Orlando Pirates or Bidvest Wits mount a serious challenge? Stay glued to Sport24 to find out!

Latest blogs
Vote

Assuming AB de Villiers is over his elbow injury, who should skipper the Proteas in their Boxing Day Test against Sri Lanka?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

 
There are new stories on the homepage. Click here to see them.