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10 Mar 2016, 12:40 (Ref:3621857)
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#1
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The Honourable Mallett
20KPINAL
Join Date: Feb 1999
Posts: 32,666
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What now for Force India?
With this news it seems that the team principle is somewhat financially stretched.
Thoughts?
http://www.telegraph.co.uk/news/worl...aid-loans.html
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__________________
Is there a word for Schadenfreude?
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10 Mar 2016, 13:17 (Ref:3621870)
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#2
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Veteran
Join Date: Oct 2006
Posts: 2,000
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For Sale: F1 team, excellent staff and prospects, guaranteed great fun, one careful owner.
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10 Mar 2016, 14:16 (Ref:3621880)
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#3
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Veteran
Join Date: Feb 2003
Posts: 5,721
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Not a good sign. Who might swoop in to save the team if Mallya goes under?
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__________________
Interviewer: "Will the McLaren F1 be your answer to the Ferrari F40?"
Gordon Murray: "Hmm... I don't think we have anyone at McLaren who can weld that badly..."
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10 Mar 2016, 14:54 (Ref:3621890)
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#4
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The Honourable Mallett
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Join Date: Feb 1999
Posts: 32,666
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I was more thinking of the "disrepute" side of this. If he is under criminal sanction, would that impact the Formula 1 rules?
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__________________
Is there a word for Schadenfreude?
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10 Mar 2016, 15:09 (Ref:3621891)
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#5
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Veteran
Join Date: Mar 2005
Posts: 6,224
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i thought F1 rules required the involvement of corrupt billionaires? 
but seriously, the teams seems well funded, has always been competitive, more so then many of would have guessed, and people seem to be getting paid on time. and really Mallya is a figurehead for the team. to be honest im not sure what his contributions as Team Principle even are.
when they first started out i guess i would have said Mallya is an integral part of the team so his personal behaviour, good or bad, reflected on the team's image.
but based on their performance over the years, i dont really even associate the team with Mallya anymore and am willing to look at his negative press as a poor reflection on Mallya himself and not as a negative reflection on the team.
so i guess i dont see how his 'disrepute' transfers onto the team. obviously the F1 media will make the connection whenever they can but as a fan i feel like the team has earned the right to stand as a separate entity i could really care less who the owner (part owner) is...if that even makes sense. 
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__________________
What shall we use to fill the empty spaces, where waves of hunger roar?
Shall we set out across the sea of faces in search of more and more applause?
Shall we buy a new guitar? Shall we drive a more powerful car?
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10 Mar 2016, 15:26 (Ref:3621900)
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#6
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Subscriber
Veteran
Join Date: Oct 2011
Posts: 3,134
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The problem is that the two principal shareholders in the teams both owe huge sums of money to the banks in India. Regardless of what Mallya has said in his press releases, he skipped out of India just ahead of the process to have his passport seized, a fate that befell his fellow shareholder, Roy. And he is in prison until he pays something like a billion dollars into the court.
Other reports are stating that the Indian Attorney General is to apply for an extradition order to be served on Mallya, no matter where he is.
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10 Mar 2016, 15:47 (Ref:3621908)
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#7
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Veteran
Join Date: Mar 2005
Posts: 6,224
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what can i say about the politics of India! the Attorney General may want to force his return but the ruling BJP party of India are seemingly still ok with him standing as a member of their parliament and who allegedly helped with his flight from the country in the first place.
its their mess imo and not an issue for F1. anyways just my opinion. 
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__________________
What shall we use to fill the empty spaces, where waves of hunger roar?
Shall we set out across the sea of faces in search of more and more applause?
Shall we buy a new guitar? Shall we drive a more powerful car?
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10 Mar 2016, 16:42 (Ref:3621920)
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#8
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Veteran
Join Date: Mar 2005
Posts: 6,224
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i should add that im not saying any of this in support of Mallya. i think he is the worst sort of person. i just think that an f1 sanction hurts the team more than it hurts Mallya.
on a lighter note, why choose the UK to flee to? he basically picked the one country in the world to hide in that would be compelled to honour an extradition request made by the Indian Government.
seems like another poor choice in a series of poor life choices he has made!
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__________________
What shall we use to fill the empty spaces, where waves of hunger roar?
Shall we set out across the sea of faces in search of more and more applause?
Shall we buy a new guitar? Shall we drive a more powerful car?
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10 Mar 2016, 16:51 (Ref:3621923)
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#9
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Veteran
Join Date: Sep 2000
Posts: 11,371
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Quote:
Originally Posted by Peter Mallett
I was more thinking of the "disrepute" side of this. If he is under criminal sanction, would that impact the Formula 1 rules?
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Hang on Peter I will give Bernie and Flávio a call and get back to you !
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10 Mar 2016, 16:52 (Ref:3621924)
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#10
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The Honourable Mallett
20KPINAL
Join Date: Feb 1999
Posts: 32,666
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A point well made.
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10 Mar 2016, 17:33 (Ref:3621935)
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#11
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Veteran
Join Date: Sep 2000
Posts: 11,371
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Always good to see you Peter ...
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10 Mar 2016, 22:15 (Ref:3621981)
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#12
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Veteran
Join Date: Jun 2009
Posts: 7,127
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Quote:
Originally Posted by chillibowl
i should add that im not saying any of this in support of Mallya. i think he is the worst sort of person. i just think that an f1 sanction hurts the team more than it hurts Mallya.
on a lighter note, why choose the UK to flee to? he basically picked the one country in the world to hide in that would be compelled to honour an extradition request made by the Indian Government.
seems like another poor choice in a series of poor life choices he has made!
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How many Union Carbide executives were extradited from the UK to India for the Bhopal gas disaster?
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10 Mar 2016, 22:26 (Ref:3621982)
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#13
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Llama Assassin and Sheep Botherer
Veteran
Join Date: Sep 2002
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International Sheep Ambassador |
Posts: 3,934
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I wouldn't imagine much of Mallya's own personal fortune props up Force India.
His business empire appears to have been imploding backwards for many years,but he still has plenty of real estate around the world to bolt to.
I see the prosecutors are now talking money laundering,which is getting a bit more serious.
Even title sponsor Sahara seems to be going from crisis to crisis.
Another bit of interesting reading.... http://www.dnaindia.com/money/report...-loans-2186270
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__________________
1 Sheep...2 Sheep...3 Sheep...4 Sheep...So many sheep,now I'm too excited to go to sleep.
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10 Mar 2016, 22:52 (Ref:3621990)
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#14
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Veteran
Join Date: Mar 2005
Posts: 6,224
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Quote:
Originally Posted by wnut
How many Union Carbide executives were extradited from the UK to India for the Bhopal gas disaster?
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my knowledge of the incident is limited but wasnt Union Carbide and American company and the US protecting the executives?
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__________________
What shall we use to fill the empty spaces, where waves of hunger roar?
Shall we set out across the sea of faces in search of more and more applause?
Shall we buy a new guitar? Shall we drive a more powerful car?
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10 Mar 2016, 23:45 (Ref:3622008)
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#15
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 Race Official 1% Club
Join Date: Dec 2002
Posts: 44,962
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Quote:
Originally Posted by old man
For Sale: F1 team, excellent staff and prospects, guaranteed great fun, one careful owner.
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Is Mr Jordan the careful owner?
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__________________
Creative Inertia..
Always Be Closing..
Telling's Not Selling..
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