Force India And Sahara Announce Historic Association
This blog post has been much awaited and here it is.
Force India Formula One Team, Indiaâ€™s only Formula1 team, announced a historic association with the Sahara India Pariwar today. The association will see the Sahara India Pariwar become equal shareholders of the F1 team alongwith Dr. Mallya. The new equity share holding will be 42.5% each for Sahara India Pariwar and for Dr. Mallya, the balance 15% being retained by the Mol family.
The speculation doing the rounds indicated that Dr. Mallya has sold his stake to Sahara, which I guess the official press release by the team clarifies. Interestingly, James Allenâ€™s blog values the team at $235 million. (via an obvious calculation)
I was present at the press conference in Delhi and both Saharasri Subrata Roy Sahara and Dr. Mallya were elated to announce this association â€“ one that they believe should guide the team to better heights and performance. I believe this is announcement is good news for the team which now will have extended funds in its quest to achieve success in the pinnacle of motorsport.
And for those with more questions, the teamâ€™s press release explains the association better. Thatâ€™s it from me, folks!