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Despite being on track for their best-ever season, Vijay Mallya is reportedly looking to sell his Force India F1 team.:Shockked:
Mallya bought the F1 team back in October 2007 when he formed a consortium, which included Michiel Mol, and purchased Spyker F1 for €88 million.
And although the team struggled at first, last season they finished seventh in the Championship and are on track to finish at least sixth this season.
However, reports claim Mallya, who recently shut down his low-cost airline service, is looking for a buyer for Force India.
The Asian Age claims that 'Sahara India Pariwar, a multi-business conglomerate founded by Subrata Roy, is believed to be in talks to take over from Mallya, who co-owns Force India with Dutch businessman Michiel Mol.'
The report added that 'sources indicated Roy is keen to promote an Indian talent in F1 after buying the team. It's a criticism that Mallya has taken in his stride maintaining that 'none of the Indians are good enough to drive his F1 cars'.'
Source :
'Mallya keen to sell Force India' | Planet F1 | Formula One News
Is this due to financial pressure or something else?
Can Roy do what Mallya did? At last Indian Driver in FI?
Force India is really improving race after race. OMG! can't believe this news.
Cheers!
Vinu
Probably the debt, Most of his companies have accumulated a ton load of debt and he is having problems servicing them or raising more capital. I am not sure if his F1 team is making any money. Sell it off and live to fight another day. So, would RCB be next??
Dont think so.IPL is THE best business oppurtunity currently and bangalore one of the best places to do business.Combine both and RCB is raking in the moolah.
Mallya has always run his business from the heart. He would not sell it for financial reasons (especially when a F1 track is opened in India!). If anything, he will try something grand/pompous/bold to take the team to the next level.
Quote:
Originally Posted by sajands
(Post 2535245)
Latest news: Force India Chairman Vijay Mallya has no plans to sell the Formula One team and has pledged a long-term commitment ahead of the country's maiden grand prix.
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Well, that might mean he isn't happy with the price quoted!!!:)
He is a businessman first, and enthusiast later.
Quote:
Originally Posted by Daewood
(Post 2535341)
He is a businessman first, and enthusiast later.
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Not sure what you mean to derive from making such cheeky comments
Guess you have a point to prove over Mr Mallya :uncontrol
If he was as such then he would not even have ventured into Formula-1 and that too buying a regular third tier racing car team. Probably he would have raised more loans and tried his game with bigger and better technology cars. Look at the improvements he has made to the team, yes he has done by ploughing in money and making sensible decisions.
His team should be making money atleast to keep itself afloat by way of points Force India has raked in.
FIA pays the racing teams for every point they score in form of prize money.
Yep, theres news online that Subrata Roy is looking to buy Mallya's shares in Force India. Theres no smoke without fire!!
Force India to be sold? «
This is the right time to sell. Force India I believe is in its best position, to progress anymore means beating manufacturer teams like Renault and Mercedes. That is a tall and very expensive ask. Mallya knows this is as far as Force India goes. Secondly the Indian race has created a lot of hype and local businesses want a piece of the action!! What better way than to buy into an 'Indian' F1 team. Mallya smells this ripe opportunity.
If this is true then its a drawback. Mallya is a true motorsports enthusiast. Hes among the group of legends who was involved in Indian motorsports from days of infancy at Sholavalram. In a money burning business like F1 you need to be in love with the sport to keep the fire going, also deep pockets.
Subrata Roy as far as I know isn't a motorsports lover or at least nowhere in the league of Mallya. What happens half way through the season he discovers that its digging deep holes in his pockets and the headaches of F1 politics is too tasking for his 'sahara parivar'. What happens to Force India then?!!
Also can any of you guys enlighten me as to how Subrata Roy makes his money?? I know they sold their airlines, presently own a odd hospital and hotel, couple of real estate projects!! But wheres all this dosh for sponsoring/buying teams or Force India (if true) is coming from?!!
True, Sahara Parivar don't come across as sports enthusiast; it is business for them. Though Mallya too is doing all this for money, he at least has a flair and interest in it.
Quote:
Originally Posted by shortbread
(Post 2535384)
couple of real estate projects!! But wheres all this dosh for sponsoring/buying teams or Force India (if true) is coming from?!!
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The real estate project themselves are HUGE! That alone is enough for them to go around splurging. They are sponsoring the Indian cricket and hockey teams!
Quote:
Originally Posted by ku69rd
(Post 2535370)
If he was as such then he would not even have ventured into Formula-1 and that too buying a regular third tier racing car team.
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If you were a businessman selling a product that cannot be advertised in a conventional way, wouldn't you be tempted if you got an opportunity to take your brand globally via a hot property like F1 at a VFM price?
Quote:
Originally Posted by Daewood
(Post 2535406)
If you were a businessman selling a product that cannot be advertised in a conventional way, wouldn't you be tempted if you got an opportunity to take your brand globally via a hot property like F1 at a VFM price?
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Honestly Mate, it does not make any business sense to make yourself felt globally. Remember liquor which is his domain, Whiskey Consumers prefer Scotch make any day compared to IMFL. A simple question to ask you prefer black dog or black label :)
Quote:
Originally Posted by ku69rd
(Post 2535413)
Honestly Mate, it does not make any business sense to make yourself felt globally. Remember liquor which is his domain, Whiskey Consumers prefer Scotch make any day compared to IMFL.
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Any business worth it's salt would love to have a global presence. No one will say, i will sell only to Indian customers.
FYI Mallya has been trying very hard to pass of his Indian made whisky into western markets even though they aren't actually Whisky. The indian made ones are actually rum flavoured to pass off as whiskey. Hence the western whiskey makers are opposing him. Indian whisky - Wikipedia, the free encyclopedia
Quote:
Originally Posted by Daewood
(Post 2535430)
Any business worth it's salt would love to have a global presence. No one will say, i will sell only to Indian customers. FYI Mallya has been trying very hard to pass of his Indian made whisky into western markets even though they aren't actually Whisky. The indian made ones are actually rum flavoured to pass off as whiskey. Hence the western whiskey makers are opposing him. Indian whisky - Wikipedia, the free encyclopedia
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Well Mate, if you have a hard perception about Mr Mallya cannot change it for sure/neither am here to change it. Even though am not on his pay rolls, he has a personality that can be truly admired (atleast by me). If your view feels that he is just a businessman so be it.
However we thought this forum was into F-1 Team and his decision rather than he trying hard to pass his whiskey.
Atleast be proud he is doing something Indian, which make are you?
There's a large amount of business in everything he does. He has a collection of classic cars and he himself says its investment.
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