Force India’s deputy team boss Bob Fernley has denied reports the team could be under threat of closure or a takeover due to financial concerns.
Italian media reports the financial troubles surrounding co-owner Vijay Mallya and his various businesses which include the Kingfisher airline and United Breweries, could see the team suffer severe difficulties during the 2013 season.
Fernley though told Autosport that “there is absolutely no substance” to the rumour.
“Our shareholder Vijay and Sahara are incredibly strong,” he added. “They don’t need partners.
“As we speak, we are putting together and implementing an expansion programme that Vijay talked about at the end of last year,” he said in regard to a £50 million investment in the team’s facilities.
“And all that is going ahead and moving forward. For the last four years, coming now to our fifth year, the team has been financed without any dependence on the shareholders’ companies that they own.
“There is absolutely no substance to it anywhere and that’s the thing that’s very distressing.”
He concluded by denying that they have been in talks with potential buyers.
“We have had no discussions whatsoever with any buyers at all.”
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