82 replies to this topic

[Marklar]

Aditya Raj Kaul‏ @AdityaRajKaul
#BREAKING: Vijay Mallya arrested by the Scotland Yard in #London, produced in a local court. Likely to be handed over to India.

As unrelated to the car thread discuss the topic and its possible implications for Force India here

Sawards take

https://joesaward.wo...allya-arrested/

[Viryfan]

It wont change much as the team is running by itself , over 90% of income is coming from outside source.

 

Over the long run, Force India destiny depends much on Diageo wishes.

[RedBaron]

I hope it doesn't affect the team, like Saward said it runs itself but hopefully none of the sponsors are put off by the association and are able to break.

[LuckyStrike1]

I mean, they are not doing THAT badly 

[PiperPa42]

I'm surprised it has taken this long. I doubt he will see the outside of a prison cell again if he gets extradited to India.

[NervousNerys]

I suppose any potential buyer needs to know what Liberty are going to do about prize money, before they get serious.

[Laster]

Well it seems likely Force India would get sold off if Mallya ends up in jail. So I wonder how far the price of the team will have to drop before a prospective buyer becomes interested in it, and if it does get new owners, hopefully they're wise enough to let the team continue on doing its thing rather than meddle.

[markelov74]

What he deserves for not paying the employees of Kingfisher. I could see a manufacturer buying this team

[RedBaron]

What he deserves for not paying the employees of Kingfisher. I could see a manufacturer buying this team

 

I hope not.

[markelov74]

I hope not.

Neither do I, but FI clearly have good people working and strong base and facilities to use with that wind tunnel. If anybody wants to buy out a current team this one would be the one to go for

[Graveltrappen]

What he deserves for not paying the employees of Kingfisher. I could see a manufacturer buying this team

In before the VW Audi

[markelov74]

In before the VW Audi

The ford group said probably until 2021 they won't enter, so probably FI needs a more immediate backers.

[Fastcake]

It's not good optics for a team to have its owner and nominal team principal in prison. Thankfully the team is safe without him for the immediate future, but Force India will start to struggle commercially until Mallya ceases his involvement with the team. People tend to shy away from doing business with a man who's been arrested for his business practices.

Still, I guess it's nice to return to the good old fashioned days of team owners regularly being brought before the courts.

Aditya Raj Kaul‏ @AdityaRajKaul
#BREAKING: Vijay Mallya arrested by the Scotland Yard in #London, produced in a local court. Likely to be handed over to India.

As unrelated to the car thread discuss the topic and its possible implications for Force India here

Sawards take

https://joesaward.wo...allya-arrested/

I'm surprised Saward could type without bursting into laughter.

[Samspade]

http://timesofindia....ow/58239717.cms

 

http://www.ndtv.com/...-london-1682826

 

 

http://www.hindustan...5PG4KjCwtK.html

 

 

 

they were a great read

Edited by Samspade, 18 April 2017 - 10:50.

[LuckyStrike1]

What he deserves for not paying the employees of Kingfisher. I could see a manufacturer buying this team

 

First you need to find a manufacturer actually wanting to be involved in F1. 

 

They are not exactly lining up. 

[Samspade]

It will end up being a steel for who ever buys it

 

 

the problem is can the team last last the season without his cash only time will tell

[F1Lurker]

It will end up being a steel for who ever buys it


the problem is can the team last last the season without his cash only time will tell

Note to Honda: Buy this team now!!!

[RedBaron]

Note to Honda: Buy this team now!!!

 

And take a long hard look at those engines   

[RedBaron]

Note to Honda: Buy this team now!!!

 

And take a long hard look at those engines   

 

There has to be something that would stop this happening, surely?

[Viryfan]

It will end up being a steel for who ever buys it

 

 

the problem is can the team last last the season without his cash only time will tell

 

Yes they will as Vijay no longer funds the team.

[F1Lurker]

And take a long hard look at those engines

Agreed! 😂

[F1Lurker]

Yes they will as Vijay no longer funds the team.

Surely​ some sponsors would leave if the team principal is under criminal charge.

How much of an exodus there would be is a matter of speculation.

Edited by F1Lurker, 18 April 2017 - 11:05.

[Titleist]

Has anyone done the "Alonso to buy a team" thread? Might as well add this to the list 

[taran]

Surely​ some sponsors would leave if the team principal is under criminal charge.

How much of an exodus there would be is a matter of speculation.

 

Mallya has been a shady dealer all of his life. No current sponsor at Force India could have been unaware of this. So if they were happy to sign up before, his current arrest will make little difference.

 

Acquiring new sponsors may be more difficult and that might be a problem as Force India relies on Mallya to cover shortfalls etc.

Perhaps Mol will increase his shareholding and/or play a bigger role in the team. Currently he's the only shareholder not in jail.

[ferrari2017]

Well this is perfect opportunity for honda to buy force india. It best of both world , mclaren gets mercedes and honda develop their honda f1 team.   there is no need to pay money to mclaren and get embarassed. build and develop honda f1 team.

[RedBaron]

Well this is perfect opportunity for honda to buy force india. It best of both world , mclaren gets mercedes and honda develop their honda f1 team.   there is no need to pay money to mclaren and get embarassed. build and develop honda f1 team.

 

I like it! Can't wait for 2018 

[Erwin123]

As far as I know Vijay Mallya owns only 42,5% of the shares of FI,  Subrata Roy Sahara and Michael Mol owns the rest.

[sopa]

I have got the impression both Force India and Toro Rosso have been on sale for a while, but simply there are no buyers... So they carry on just like that.

 

I am impressed Force India has been part of F1 for ten seasons already. I remember, when they came people were laughing and thinking they would stick around just for a year like Midland F1 or Spyker...

[SenorSjon]

Mallya isn't the only owner...? 

[Marklar]

Vijay Mallya‏ @TheVijayMallya
Usual Indian media hype. Extradition hearing in Court started today as expected.

[RedBaron]

Vijay Mallya‏ @TheVijayMallya
Usual Indian media hype. Extradition hearing in Court started today as expected.

 

So we won't get Force Honda 

[taran]

As far as I know Vijay Mallya owns only 42,5% of the shares of FI,  Subrata Roy Sahara and Michael Mol owns the rest.

 

Correct. Roy also owns 42.5% and Mol owns the remaining 15%.

[EthanM]

I like it! Can't wait for 2018 

 

 

So we won't get Force Honda 

 

 

Alonso to join Force Asturias Mugen Honda VTEC, as team principal and driver, you heard it here first

 

 

Vijay Mallya‏ @TheVijayMallya
Usual Indian media hype. Extradition hearing in Court started today as expected.

 

 

I m confused, was he or wasn't he arrested, and if he was why didn't anybody confiscate his phone

Edited by EthanM, 18 April 2017 - 11:43.

[Viryfan]

Alonso to join Force Asturias Mugen Honda VTEC, as team principal and driver, you heard it here first

 

 

 

 

I m confused, was he or wasn't he arrested, and if he was why didn't anybody confiscate his phone

 

 

I guess that Mallya went to police , police placed him under arrest or some sort of procedure in order to ensure he attend the court hearing planned.

[Fastcake]

Notably, co-owner Subrata Roy is currently on parole in India in conjunction with another unrelated fraud case for his business practices.

[EthanM]

I guess that Mallya went to police , police placed him under arrest or some sort of procedure in order to ensure he attend the court hearing planned.

 

apparently he turned up to the police station, was arrested, given bail and left.

 

650,000 quid, May 17th court date

[charly0418]

If Slim ever wanted to buy a team it's now or never

[Neno]

Neither do I, but FI clearly have good people working and strong base and facilities to use with that wind tunnel. If anybody wants to buy out a current team this one would be the one to go for

good for Renault to poach some people. 

[Risil]

Quick reminder that although legal proceedings against Mallya are underway, he has not been convicted of any crimes and the usual libel laws still apply to what you post here.

 

While you're all welcome to continue discussing Mallya and the charges against him, please try and stay close to the reported facts. Thanks.

[BullHead]

Indeed. It's not exactly a new item anyway. The extradition attempt might be, but the case has been going on some time now. The Indian government reckons he owes a lot of tax from the former Kingfisher airline. I seem to remember from past analysis , his financial arrangements have already been placed so as not to affect the team.

[Marklar]

More from the twitter world
 

 

 
And Joe is taking the piss
 

The Metropolitan Police, however, did issue a statement as follows:
“Officers from the Metropolitan Police’s Extradition Unit have this morning, Tuesday 18 April, arrested a man on an extradition warrant,” it said. “Vijay Mallya, 61 (18/12/1955), was arrested on behalf of the Indian authorities in relation to accusations of fraud. He was arrested after attending a central London police station, and will appear at Westminster Magistrates’ Court later today, 18 April”.
So Vijay Mallya was arrested this morning. There was no police chase, nor a raid on his house, nonetheless he was place under arrest.
So where’s the hype in that?

https://joesaward.wo...allya-and-hype/

Edited by Marklar, 18 April 2017 - 14:15.

[RedBaron]

History tends to suggest when someone tries to cling onto power amid questionable circumstances things don't end well.

 

Those tweets suggest Vijay is defiant.

 

I worry for Force India... someone making headlines for being arrested and who is embroiled in tax issues and potentially other goings is not appealing to brands.

 

Innocent until proven guilty, but just having your brand associated with these headlines could be damaging. Will they stick with a team that is 'still being led by' (in his own tweeted words) by a man who was just arrested by the Met Police?

 

I wouldn't be so sure that Force India will stay financially secure  

 

Surely no contract is signed without a 'damaging our brand' clause.

[RA2]

It is not tax issue but issue of wilful default on loans borrowed from public banks

[superden]

It's not exactly Andrea Moda though, is it?

[lustigson]

So, owner Sahara's boss is on parole, and now owner Mallya is under arrest, too. That leaves only the Mol family as free citizens as owners, right. 

 

Judging what Force India can do with their current budget, they should be very interesting to potential new investors in F1.

Edited by lustigson, 18 April 2017 - 15:49.

[Rinehart]

Hint of glee in Joe's blog "VJ is a small time pawn and the team runs itself" 

[Jon83]

A great moment for Joe Saward. 

[danmills]

Enter: Ron Dennis?

 

Would like to see Honda fund and back them as opposed to manage them.

 

It would be devastating for them to sink when they have punched above their weight for so long now.

[Samspade]

It just takes someone like little eazy e to swoop in and buy it up cheap 

[Ricardo F1]

Let's crowdsource a new company called Majeure.