Sahara Group To Invest $ 100 Million To Force India
The Sahara group, which has interests in the financial industry, recreation and sports, among others, said in a statement Wednesday that it had adhered to the new shares on the F1 team and has an equal share with Vijay Mallya.
Mol family owns the remaining 15 percent.
Flamboyant Indian Mallya will continue to the senior team the only team in Formula One, which is now known as the Force Sahara India, while the group chairman Subrata Roy Sahara should be President.
"This is the meeting of two great groups in India, which both supported the sport in our country for many years," said Mallya.
"The possibilities are endless. With this type of resource in the company Force India will invest in research and development and upgradation of its facilities, and therefore hope to be much more competitive."
Force India was founded in 2007, when a consortium led by Mallya and Mol bought the loss of the Spyker Formula One team, and later renamed Force India.
F1 teams, with the current drivers are German Adrian Sutil and Britain's Paul di Resta, is the sixth investment manufacturers' first race on Sunday in South Korea.
Mallya has a profitable business minds, but facing the wrong time in aviation.
His airline Kingfisher, India's second largest private airline, which has never been reported in operating income, recently announced their intention to leave the lower part of the company's focus on the Premium model, and the reduction of debt .
Kingfisher's auditors said the company needs extra money, as the airline struggles to survive in a difficult market.
Posted by Kathorya
on 1:30 PM. Filed under