Force India F1 team seeks advance on 2016 payments

Wed Oct 28, 2015 12:30pm EDT
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By Alan Baldwin

MEXICO CITY (Reuters) - The Force India Formula One team have requested an advance on their 2016 championship money to help tide them through the winter and pay suppliers.

Deputy team principal Bob Fernley told Reuters the request was for a payment similar to the one Force India received from commercial supremo Bernie Ecclestone before the start of this season.

"The only difference between what we did at the beginning of this year and what we are planning for 2016 is just bringing it forward a month or so earlier to cash-flow it better," he said on Wednesday ahead of the Mexican Grand Prix.

"We don't want suppliers suffering, obviously," added Fernley.

"We know we've got to draw down because we need it through the winter period because we don't get any payments...we're being a bit more proactive this year in making sure we're ahead of the game rather than behind it."

Formula One teams receive payments monthly, from February to the end of November, from the commercial rights holder.

The sums reflect where the team finished in the previous season as well as historic performance.

Fernley said Ecclestone was supportive, despite Force India and Sauber last month asking European Union authorities to investigate Formula One's governance and distribution of revenues.   Continued...

Oct 25, 2015; Austin, TX, USA; Force India driver Sergio Perez (11) of Mexico and Force India driver Nico Hulkenberg (27) of Germany during the United States Grand Prix at the Circuit of the Americas. Mandatory Credit: Jerome Miron-USA TODAY Sports