Earlier this month, a consortium of investors led by Canadian businessman Lawrence Stroll agreed to bring Force India out of administration. The FIA confirmed today that the joint administrators of Force India Formula One Team Limited have now completed the sale of the business and its assets to the consortium, now known as Racing Point UK Limited.
Racing Point Force India is a completely new entity, starting with no points, with the former Force India entry excluded from the 2018 constructors’ championship due to its inability to complete the season. However, race drivers Sergio Perez and Esteban Ocon will keep their points in the drivers’ standings.
Under Force India's new ownership structure the team’s Deputy Team Principal Robert Fernley will stand down from his role. The remainder of the senior management team remains unchanged with Otmar Szafnauer now the team principal and chief executive officer of Racing Point UK Limited.
"Following a disciplinary investigation and prosecution by the FIA under Article 4 of the FIA’s Judicial and Disciplinary Rules, the Sahara Force India F1 Team has accepted its exclusion from the 2018 FIA Formula One World Championship with immediate effect, due to its incapacity to comply with Article 8.2 of the Sporting Regulations moving forward, and forfeits all Constructors Championship points under Article 6.2," the FIA said in a statement.
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