Sahara Force India Formula One Team’s Sergio Perez’s plan to help save the Silverstone based outfit by petitioning London’s High Court to enter the team in administration has paid off.
On Tuesday evening it emerged that the Silverstone based outfit have been rescued by a consortium led by Canadian businessman Lawrence Stroll, the father of Williams Martini Racing’s Lance Stroll.
Perez revealed last week that he had been asked by management at Force India to initiate the proceedings in order to protect the team.
The news means that the team will be able to continue the development of their 2018 car having halted development until the financial situation with the outfit was sorted out. FRP Advisory have confirmed that all of the team’s creditors will be paid immediately while the team will receive extra funding in the next two to three weeks which leads up to the Belgian Grand Prix at the end of August.