The FIA has confirmed that a new entry, under the Racing Point Force India banner, will compete from this weekend’s Formula 1 Belgian Grand Prix, replacing Force India.
Force India had undergone a tumultuous period in Formula 1 across recent months, ostensibly stemming from the personal financial issues endured by co-owner Vijay Mallya.
Force India entered administration at the end of July before being rescued by a consortium of investors led by Lawrence Stroll, father of Williams racer Lance.
However Force India’s future was again thrown into uncertainty in Belgium when confusion emerged over ownership of the team’s entry in Formula 1, and the team’s assets.
Force India branding was removed from the team’s motorhome and trucks in the Belgian Grand Prix paddock, while a media schedule was issued without the team’s name.
Sergio Perez and Esteban Ocon both conducted their Thursday activities as planned, as did the team’s mechanics, preparing the pair of VJM11s in the garage.
In effect, Force India – whose history stretched back to the Jordan Grand Prix days of the early 1990s – contested its last Grand Prix in Hungary.
It has been replaced for Belgium by the new Stroll-led effort, complete with Force India’s 2018 cars, Mercedes power unit, Perez, Ocon and Force India’s employees.
The Racing Point Force India thus starts on zero points, with the Force India team that held sixth in the standings now excluded from the Constructors’ Championship.
Perez and Ocon, as per regulations, keep their points for their respective efforts in the Drivers’ Championship, with the pair in effect having moved teams mid-season.
Otmar Szafnauer, formerly Force India’s Chief Operating Officer, has been installed as Team Principal and CEO.
"Since the Force India Formula One Team Limited was placed into administration on 27 July, the FIA has worked in collaboration with the Joint Administrators (Geoff Rowley and Jason Baker of FRP Advisory LLP), Racing Point UK Limited and Formula One Management to ensure the expedient and compliant transition of the team’s assets to the new entrant," confirmed an FIA statement.
"This successful process has protected motor sport competition at the highest level, as well as the jobs of over 400 employees.
"Following a disciplinary investigation and prosecution by the FIA under Article 4 of the FIA’s Judicial and Disciplinary Rules, the Sahara Force India F1 Team has accepted its exclusion from the 2018 FIA Formula One World Championship with immediate effect, due to its incapacity to comply with Article 8.2 of the Sporting Regulations moving forward, and forfeits all Constructors Championship points under Article 6.2.
"The Joint Administrators of Force India Formula One Team Limited have completed the sale of the business and its assets to Racing Point UK Limited, the investment consortium led by Lawrence Stroll and the team’s senior management."
FIA President Jean Todt welcomed the move, commenting: "I am very pleased that a strong, positive outcome has been reached and welcome the mid-season entry of Racing Point Force India.
"Creating an environment of financial stability in Formula One is one of the key challenges faced by the sport, however thanks to the hard work of the FIA, the Joint Administrators, Racing Point and Formula One Management we have a situation now that safeguards the future for all of the highly-talented employees, and will maintain the fair and regulated championship competition for the second half of the season."
