BREAKING: Force India placed into administration!

Force India has been placed into administration over debts apparently owed to Sergio Perez. The Mexican brought forward the action over a £3 million total owed to him by the team.

Following a court hearing in London during the Hungarian Grand Prix weekend, the team were officially placed into administration having admitted that they were struggling with debts and looking for a new owner to buy the team out.

“An administrator was appointed by the court for Force India F1 this evening,” deputy principal Bob Fernley told Reuters.

In a message sent to colleagues, Vijay Mallya said that the action was brought forward by driver Perez. The application was also supported by Mercedes, who are owed around £9 million by the Force India team.

The team are hopeful of announcing an investment soon, with Dmitry Mazepin the most likely candidate to make such a move. He is the father of Force India test driver Nikita Mazepin and is reportedly in talks with the team over a possible buyout.