82 replies to this topic

[FullThrottleF1]

It's funny that anyone here thinks there will be a buyer for this team...

[charly0418]

It's funny that anyone here thinks there will be a buyer for this team...

 

Saward did say that on December Slim got VERY close to buying Manor. But apparently people were already jumping ship from the team and he backed out last second. This could be what hes looking for

[Nathan]

It's funny that anyone here thinks there will be a buyer for this team...

 

Why wouldn't there be?!??!  I can't imagine the current owners can inject much money into it, so it must be close to self financing.  It would be a relatively cheap buy because they don't have the assets Enstone or Grove have.  It is almost a bare bones operation.

Edited by Nathan, 18 April 2017 - 17:36.

[Clatter]

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.

Only? That's a fairly decent chunk.

[Clatter]

It's funny that anyone here thinks there will be a buyer for this team...

More chance of interest than there would be if manor were still on the grid. They have a good setup to build upon, and they will be getting FOM money as there are only 10 teams.

[RacingGreen]

I bid $1, (well it worked for Ross Brawn.)

[loki]

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

Ford said nothing of the sort.  They stated directly they didn't have any plans for F1.

 

Dave Pericak, director of Ford Performance, told Motorsport.com: "We're not really looking at F1. I don't see us getting into that any time soon.

"Formula 1 is so expensive. If you look at every series we are in right now there is a relevance to all the goals and objectives we have, in developing our tools, technology and people and translating that into road cars. Every series that we're in has an element of that."

 

 

https://www.motorspo...urn-off-870200/

[BRG]

I bid $1, (well it worked for Ross Brawn.)

Cheapskate.  I bid £1!

[pdac]

Cheapskate.  I bid £1!

 

Is that a old coin or a new one?

[BRG]

I have yet to see one of the new ones!

 

Anyway, I was bidding with an old one pound note that I had kept to remind me of the good old days, when men were men and you could have a good night out and still have change from a pound note.

[GhostR]

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

 

 

So, owner Sahara's boss is on parole, and now owner Mallya is under arrest, too. 

 

And iirc Subrata Roy has previously been jailed a few years ago. 

[haryantofan666]

I've been living under a rock when it comes to this dude. Can someone please give me a summary why he deserves to spend the rest of his life behind bars? Who did he kill, kidnap or abuse?

[EthanM]

I've been living under a rock when it comes to this dude. Can someone please give me a summary why he deserves to spend the rest of his life behind bars? Who did he kill, kidnap or abuse?

 

Willful default, which apparently is an India specific term for somebody (in this case his airline) that borrows large sums of money with no intention to pay it back

[GhostR]

Willful default, which apparently is an India specific term for somebody (in this case his airline) that borrows large sums of money with no intention to pay it back

 

And I believe as a sideline to this, there's suspicion that the money was borrowed for <purpose a> (related to the airline) but then funnelled off for <purpose b> (not sure where, another Mallya / Sahara business ... but if it turns out to be the F1 team, then they could be in trouble).

[RacingGreen]

I have yet to see one of the new ones!

 

Anyway, I was bidding with an old one pound note that I had kept to remind me of the good old days, when men were men and you could have a good night out and still have change from a pound note.

 

Well I remember when a pound was enough for a good night out, a chip dinner on the way home, sleep with the barmaid, and have enough change for the bus next morning.

Edited by RacingGreen, 19 April 2017 - 21:33.

[pdac]

I have yet to see one of the new ones!

 

Anyway, I was bidding with an old one pound note that I had kept to remind me of the good old days, when men were men and you could have a good night out and still have change from a pound note.

 

Has anyone seen a new one? I've yet to find someone who has. I'm sure I remember when you only needed a ten shilling note for a good night out - but when you're 10, a good night out is somewhat cheaper.

[F1 Mike]

New pound coins are everywhere round my way. I have 7 new in my wallet and only 1 old... 

 

 

Mallya has clearly known this trouble was looming for a long time as we've not really seen or heard much of him for a few years.

It's probably one of those cases where we haven't even heard half the story yet. I believe nothing I read from UK newspapers though...

[BRG]

I got a new pound coin today!     I didn't notice it until I tried to use it in a self checkout machine at Tesco.  And it worked, so now I haven't got one again.

[pdac]

I got a new pound coin today!     I didn't notice it until I tried to use it in a self checkout machine at Tesco.  And it worked, so now I haven't got one again.

 

Me too. I went to the local greasy spoon, handed over a tenner for lunch and received 3 shiny new pound coins in change - put one in the tip bowl, so now have 2.

 

So where do I go to lodge my bid for the FI team?

[Samspade]

Once Indian authorities present adequate proof of financial fraud. Mallya’s extradition hearing can stat the UK courts will take a decision after that

 

 

 

http://www.livemint....-for-banks.html

 

 

 

http://indianexpress...-video-4622056/

Edited by Samspade, 21 April 2017 - 10:59.

[spacekid]

Heh, there's something about a team boss being arrested that makes me feel strangely nostalgic, although I'm not sure why. I probably just miss Bernie.

Force India are a great little outfit, they should be fine. There's something very wrong with F1 if they aren't.

Edited by spacekid, 21 April 2017 - 10:57.

[Marklar]

As posted in the wrong thread

The woes continue for Vijay -

The Supreme Court on Tuesday held controversial liquor baron Vijay Mallya guilty of contempt of court for not honestly disclosing all his assets and diverting $40 million to overseas accounts of his family members in violation of the court's order.

http://timesofindia....ow/58602423.cms

[SirDennis]

Last of the money laundering teams in F1?

[SirDennis]

Bernie will probably fund the Brabham purchase of the Pink One....

[BRG]

Last of the money laundering teams in F1?

Really?

 

Bernie will probably fund the Brabham purchase of the Pink One....

So apparently not the last...

[charly0418]

Last of the money laundering teams in F1?

LOL

[OO7]

Well I remember when a pound was enough for a good night out, a chip dinner on the way home, sleep with the barmaid, and have enough change for the bus next morning.

[RacingGreen]

A non-story from thecheckeredflag.co.uk

 

http://www.thechecke...ke-force-india/

 

So my question, which I hope isn't too stupid: if Subrata Roy owns 42.5% and Vijay Mallya owns 42.5% who owns the other 15% ?

[InSearchOfThe]

The Mol family Of Holland.

Former owners of Spyker F1.

[johnwilliamdavies]

Looks like Vijay is going to be forced back to India - https://www.bbc.co.u...siness-47121447

 

 

 

UK Home Secretary Sajid Javid has approved the extradition of Indian business tycoon Vijay Mallya, who faces fraud charges back home.

Edited by johnwilliamdavies, 04 February 2019 - 17:48.

[A3]

Looks like Vijay is going to be forced back to India - https://www.bbc.co.u...siness-47121447

Hehe, funny.

[maximilian]

About time he faces the music back home.  Every single Indian I ever asked about him told me he's a "crook".

[Sterzo]

According to the Beeb, "Mr Mallya's total debts, including unpaid wages and operating costs, are estimated to exceed $1bn." And there's me, been mismanaging my finances for decades, now made to feel completely inadequate.