Sahara Group invests $100m in Force India Formula 1

Vijay Mallya (R), co-owner of the Force India Formula One team, and Sahara Group chairman Subrata Roy The Force India team currently lies sixth in the Formula 1 constructors' table

Indian conglomerate Sahara has announced a deal to buy a large stake in the Force India Formula 1 team.

The company will invest $100m (£63m) for a 42.5% stake, making it co-owner with the team's co-founder Vijay Mallya, who will remain team principal.

The money will be used to invest in new technology to improve performance, a company statement said.

Sahara has a number of sporting interests and sponsors the Indian national cricket team.

"Formula 1 car racing has always remained the bastion of the western world," said company chairman Subrata Roy Sahara.

"The advent of India in this exciting sport has remained a matter of pride for all our countrymen. I feel doubly proud that Sahara is the co-owner of India's only Formula 1 team and I am sure that through Sahara Force India, we will together bring pride and laurels to our beloved nation."

Following the deal, the Moll family from the Netherlands, which helped found the team with Mr Mallya, will hold the remaining 15% stake.

Force India currently lies sixth in the Formula 1 constructors' table.

More on This Story

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • The Duchess and Duke of Cambridge and Prince GeorgeGorgeous George

    Baby steals show as tour reveals rise in support for monarchy


  • Kim Jong-un visits a children's campThe Notepad Men

    Who are the people who take down Kim Jong-un's every word?


  • Beebcoins logoMaking money

    How easy is to coin your own virtual currency?


  • Donald Tusk7 days quiz

    What made Poland's prime minister become an internet hit?


  • Spanner CrabEdible images

    Are these the best food photographs of the past year?


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.