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Force India placed into administration over Perez debt
Force India was placed into administration on Friday, reportedly after Sergio Perez brought an application over a £3 million debt owed to him. It has long been known that the Formula 1 team is in financial trouble with rumours of a pending buy-out doing the rounds for months. The situation came to a head on Friday when the F1 team was placed into administration following a court hearing in London. 'An administrator was appointed by the court for Force India F1 this evening,' deputy principal Bob Fernley to Reuters. According to reports the action was triggered by their driver Perez over an unpaid debt. Perez, who told journalists at the Hungaroring that Force India's financial...
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