Vijay Mallya is an Indian entrepreneur who notably owns the airline Kingfisher Airlines and the beer brand Kingfisher. However, he seems to be experiencing some financial problems with his low-cost company Kingfisher Red and was forced to close the company.<\/p>\n
This has therefore caused a stir, and some media outlets have even gone as far as announcing a possible sale of the Formula 1 team, based in Silverstone, to the Sahara India conglomerate. The sale could even be announced in a few days. But in the end, it seems to be just smoke and mirrors, as Vijay Mallya insisted on setting the record straight by stating that he has no intention of selling his Formula 1 team.<\/p>\n
\u00ab There is no question of me stepping down from Force India. I even have more reasons to improve my team’s performance with India’s entry into Formula 1, \u00bb explains Mallya, as quoted by the news agency Reuters<\/i>.<\/p>\n
The first Indian Grand Prix of Formula 1 will take place on October 30th, featuring an Indian team – Force India, and an Indian driver – Narain Karthikeyan at the wheel of HRT, and possibly a second with Karun Chandhok who might replace Jarno Trulli at the wheel of a Team Lotus.<\/p>\n
Update:<\/b> An official statement has been released by the Force India team denying any sale of the team.<\/p>\n
I was shocked to read an article that said I was going to sell my Formula One team. This is completely false and unfounded. I am very proud to have brought an Indian team to the Formula 1 World Championship grid and have worked very hard to improve the team’s performance. Now that India is on the Formula 1 World Championship calendar, my commitment to Force India is even stronger. As the team principal, I will continue to manage the team and I have no plans to leave it, declared Vijay Mallya in the statement.<\/p>\n","protected":false},"excerpt":{"rendered":"
Several rumors emerged yesterday and today about a possible sale of the Force India team to the Indian conglomerate Sahara India. But Vijay Mallya, the head of the Indian team, insisted on denying these rumors, stating that he has no intention of selling his Formula 1 team.<\/p>\n","protected":false},"author":32,"featured_media":41947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,1749],"tags":[898,1309],"class_list":["post-20912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-f1","category-news","tag-mallya","tag-racing-point-f1-team"],"acf":[],"yoast_head":"\n