05/09/2009
NEWS STORY
At a time when there remain doubts as to whether India will host a round of the World Championship, it is reported that an Indian consortium is looking at purchasing the BMW F1 team.
The Indian sports ministry recently turned down a request from race promoter JPSK Sports for a $36.5 remit in foreign currency payable to Bernie Ecclestone's Formula One Administration (FOA), claiming that it sees F1 as entertainment rather than sport and fails to see the value of holding a Grand Prix, adding that the sport "does not satisfy conditions which focus on human endeavour for excelling in competition with others".
However, Ecclestone and Force India boss Vijay Mallya, still basking in the glory of his team's weekend in Belgium, both remain convinced that India will host a round of the World Championship in 2011.
Now come reports that a consortium, led by Swiss driver Neel Jani (right), has made an application to purchase the team.
"Indian investors have made an application to purchase the BMW-Sauber team," claims the Times of India today, quoting an unnamed source as saying that the consortium has 50 million euro to put on the table. The newspaper claims that the consortium includes Jani, who has achieved considerable success in A1GP in the last two years, and whose father is Indian.
The news of the Indian consortium follows reports that a Malaysian group involved with Team Lotus is looking at a possible deal that might save the Munich and Hinwil based outfit, while Peter Sauber, who retains a 20 percent stake in the team, is also thought to be trying to put a new bid together having had his initial bid rejected by the BMW board.