Force India has issued an official statement in reaction to speculation that it is in financial trouble and "could collapse".

Earlier today, Italiaracing magazine claimed the Silverstone outfit was "in crisis", a claim picked up by a number of websites.

In short, the magazine claimed that financial problems encountered by Vijay Mallya had left him "experiencing severe economic difficulties with his companies" and that this, in turn, was damaging the team.

The magazine also claimed that in addition to Bernie Ecclestone having to activate "a plan to save the team", there was talk of Colin Kolles returning to the outfit which he ran during several of its various manifestations. Indeed, even Flavio Briatore, who left the sport in the wake of Crashgate, was linked with the Indian team.

In a brief statement issued this afternoon, Force India said:

"Sahara Force India dismisses the rumours that appeared on the internet this morning, which are part of a growing trend of irresponsible online journalism directed at the team.

There is no truth behind claims that the team is in 'crisis', which only serve as gossip at a time when news in the Formula One world is limited. It's also disappointing that the team was not contacted for a response.

The team is pushing ahead with the new car build and looking forward to the launch of the 2013 car and new team partnerships."

Meanwhile, a Force India insider told Pitpass that all is well. "We scored 109 points last year, we finished seventh and were giving Sauber a good fight for sixth.

"Over fifty million has been made available to us, as we revealed last year, and I can tell you that we are already spending the money. Windtunnel work is going well, everything is fine here."