Hungarian Grand Prix: Force India put into administration by High Court
By Andrew Benson
Chief F1 writer at the Hungaroring
- From the section Formula 1
Force India have gone into administration before a possible takeover.
Deputy team principal Bob Fernley confirmed to BBC Sport that the High Court in London had appointed an administrator.
No further information about the future of the team has been released at this stage.
Earlier on Friday, Force India admitted they faced a "critical period" as financial problems threatened the team.
At least three potential buyers are said to be in the wings considering a purchase of the Silverstone-based outfit.
Chief operating officer Otmar Szafnauer said on Friday that he believed fresh investment in the team was "imminent".
Force India's problems arise from the legal issues of co-owner Vijay Mallya, who is fighting extradition to India on fraud charges, which he denies.
Szafnauer added that he believed that if the team went into administration it would come out of it and survive.
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Meanwhile, team driver Esteban Ocon is on the verge of securing a deal to move to Renault for next season as a replacement for Spaniard Carlos Sainz alongside German Nico Hulkenberg.
Sources have told BBC Sport that a deal for the Frenchman to make the switch is agreed and simply needs finalising.
Ocon is effectively on loan to Force India from Mercedes, who own his contract.
Szafnauer said: "It's fine for him to go but we have to agree to that. If it's mutually beneficial [to Force India and Mercedes], that's what we are going to do. We won't stand in his way."
