Force India have entered administration following a court claim by both Sergio Perez and Mercedes that the team would not be able to pay off debts totalling £12m to them.
The Silverstone-based outfit has been struggling financially all season, as the legal troubles of embattled owner Vijay Mallya continue and the Indian businessman waits what he considers a worthy takeover offer.
Rumours had claimed Lawrence Stroll, father of Williams driver Lance, would step in but only after the company had entered administration, with that now the case following a court order on Friday, which was confirmed by deputy team boss Bob Fernley to Reuters.
It is understood that Perez was the catalyst for the action by putting in a claim for a reported £3m in unpaid wages and later engine supplier Mercedes joined the suit with a figure of £9m in unpaid bills mentioned.
Earlier in the week, the Mexican had spoken about the problems within Force India, painting a dire picture.
“At the moment the situation is critical,” he also told Reuters. “There’s no secret that the financial problems have held the team back quite a bit.
“When you look at the results, because F1 is just about the results, we are fifth in the Constructors’ Championship and you cannot imagine the financial issues we’ve had so far.
“It just shows the potential this team has.”
On Friday, COO Otmar Szafnauer also admitted movement was going on behind the scenes but made it clear he expected the situation to only last two weeks before a new injection of investment would secure Force India’s future.
“Hopefully that will be solved soon and we’ll get back to operating in the normal manner we’re used to,” he added.
“In this critical period, which might last a week or two, we’ve got to get our heads down and do the best we can here and enjoy our break after the test and come back fighting thereafter.”
Now, Dmitry Mazepin, father of GP3 driver and former Force India development driver Nikita, is the name being mentioned as a potential investor with RaceFans.net claiming “intensive discussions” have been taking place.
The Russian billionaire is believed not to be interested in taking over the team though, rather he just wants to help Mallya out of his current situation.
