Mallya says Force India will race on

Mon Nov 10, 2014 8:42am EST
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By Alan Baldwin

SAO PAULO (Reuters) - Force India co-owner Vijay Mallya has rejected speculation about his Formula One team's finances, saying they will be racing for years to come.

Speaking at the Brazilian Grand Prix, where only nine teams competed on Sunday, Mallya said Force India would not be following Marussia and Caterham onto the sporting scrapheap.

"All this speculation I think needs to stop," the liquor baron told Reuters. "It’s not doing anybody any good... the bottom line is we’re OK."

Mallya said the team's 2015 car was almost ready. Asked whether Force India would be definitely racing in 2015 and beyond, he replied: "Of course. Absolutely."

Since last month's Russian Grand Prix, Marussia have folded and Caterham gone into administration.

Force India, Lotus and Sauber, whose finances have also caused concern, want a more equal distribution of the sport's revenues but their request for a 'base payment' appeared to have fallen on deaf ears in Brazil.

Commercial supremo Bernie Ecclestone told reporters on Sunday that the teams as a whole shared $900 million in revenues and ruled out extra payments.

However, Mallya said Ecclestone had told him he was meeting Donald Mackenzie, co-chairman of rights holders CVC, to discuss the matter on Tuesday. "If I don't hear by the end of the week I'll send him a gentle reminder," he added.   Continued...

Force India Formula One driver Sergio Perez of Mexico drives during the qualifying session of the U.S. Grand Prix at the Circuit of The Americas in Austin, Texas, November 1, 2014. REUTERS/Mike Stone