Rumour: Force India is insolvent and up for sale

The Vijay Mallya-owned Force India Formula 1 team is rumoured to be in danger of folding up. Ralf Bach, who writes for Sport Bild and TZ Munchen, writes in his blog f1-insider.com that the future of the Silverstone-based team is far from certain. The team is currently insolvent.

Force India has decided to skip the first test of the 2015 pre-season at Jerez. While the team claims that it is trading the test for more development time, it is rumoured that car has been delayed because important parts suppliers have not been paid. If the team is unable to raise money over the next four weeks, it could have to sit out the Australian and Malaysian Grand Prix.

Bach also claims that Force India is up for sale. Renault is reported to be interested in purchasing the team, since it wants to have a greater presence in the sport.

The owners of Force India have been going through tough times of late. Vijay Mallya's Kingfisher Airlines has ceased operations and he is facing several legal charges. Subrata Roy, the co-owner of Force India, is in jail. 

Source: f1zone