BUDAPEST, Hungary -- Vijay Mallya's Force India Formula One team may have to go into administration as part of a process to put it on a sounder footing, chief operating officer Otmar Szafnauer said on Friday.
A Companies Court winding-up list, published on the justice.gov.uk website, had scheduled a hearing for the Force India Formula One Team Ltd at the London High Court last Wednesday, July 25. Asked about the risk of administration, Szafnauer told reporters at the Hungarian Grand Prix that another hearing was being held on Friday.
"Within a week or at the most two, our financial future will become more clear and I believe much more secure," he said.