Date: 13th October 2011 at 9:49am
Written by:

Sahara India Pariwar an Indian sports promoter has invested $100 million into the Force India Formula One team.

Sahara India Pariwar will take a 42.5% stake in the team following the investment, leaving them as co-owners with team principal and managing director Dr Vijay Mallya retaining an equal 42.5% stake with the remaining 15% owned by the Mol family.

It isn’t completely clear what the partnership will bring the team in experience as Sahara India Pariwar has an expertise in financial services, real estate, media, IT and tourism, however the deal is obviously lucrative which will enable the Force India team to develop over the coming years.

?India is reaching new heights in all spheres, including sports, Formula One has always remained a bastion of the western world. The advent of India in this exciting sport has remained a matter of pride for all our countrymen. chairman of Sahara India Pariwar, Subrata Roy Sahara told formula1.com at the press conference in New Delhi on Tuesday.

?I feel doubly proud that Sahara is the co-owner of India?s only F1 team and I am sure that we will together bring pride and laurels to our beloved nation.?

The investment by Sahara India Pariwar brings the first major change to the team since the Mallya-Mol consortium bought the team in 2007 [Previously Spyker, Midland, Jordan].

Force India team principal Vijay Mallya added: ?It has indeed been a matter of pride for me to put India on the F1 map with Force India and raise the performance of the team to its current levels, The Sahara Group has played a very important role in the development of sport in the country and is an ideal partner to take the Force India F1 Team to greater success in the Formula One world championship.?