Reports from Switzerland are suggesting that Force India co-owner Vijay Mallya could be forced out of his role as Team Principal, in the wake of continued financial troubles for the beer baron’s Kingfisher Airlines group.
An article by veteran Blick journalist Roger Benoit has suggested that the team’s co-owner, the Sahara Group, could soon take over the entire team. The Sahara group acquired a major stake in the Silverstone team two months ago.
Despite his feeble denials, Mallya’s Kingfisher Airlines is in desperate strife, and there are rumours that its bank accounts have been frozen.
The airline has been forced to pay in cash for fuel and is in mountains of debt to its creditors. Of late, it has cancelled countless flights and up to one-third of its entire fleet has been grounded as the airline struggles to contain costs. One would think that the airline’s continued
debt shuffling sponsorship ‘investment’ in Force India would be on the chopping block.
These types of news stories do not bode well for the team’s chances of attracting sponsors outside of Mallya’s alcohol empire, and it could well be that the investors from Sahara may find Mallya’s presence as a black mark against the team itself.
[Original image via LAT]