Sahara Group buys stake in Force India F1 team

Published - October 12, 2011 09:12 pm IST - New Delhi

With just 19 days to go for the inaugural Indian Grand Prix, Sahara Group on Wednesday bought 42.5 percent stake, worth USD 100 million, in the Vijay Mallya owned Force India F1 team, which has been re—christened as Sahara Force India.

Sahara Group, headed by Subroto Roy, inked an agreement with Mallya’s UB Group, which will also have 42.5 percent stake in the team.

The remaining 15 percent will be with the Mol family.

Mallya will continue to be the Team Principal.

Liqour baron Mallya had bought the Spyker Ferrari F1 Team in 2007, reportedly for about for 90 million euros. He then renamed the team as ‘Force India’ for the 2008 season.

The Force India team is at the sixth position in the constructor’s championships with 48 points in the current season.

Mallya also owns IPL team Royal Challengers.

On the other side, Sahara Group that has interests in financial services, real estate, media and hospitality, is a major promoter of sports in India.

Sahara owns the new IPL team Pune Warriors India and also sponsors India national cricket team. It had also supported the Indian national hockey team.

India will host its first Formula 1 Grand Prix on October 30, 2011 on a 5.14 km track, in Greater Noida built by Jaypee Sports International (JPSI).

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.