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The Force India Formula One team has officially changed its name to 'Racing Point Force India' for the remainder of the 2018 season. The new name will come into force immediately, ahead of the Belgium Grand Prix at Spa Francorchamps.
In the previous month, the Force India team were bought out of administration by a consortium of investors led by Lawrence Stroll. Now, the FIA has confirmed that the team has completed the formalities of the sale, along with all its assets to Racing Point UK Limited.
The new Formula One team, Racing Point Force India will, therefore, be allowed to race at the Belgium GP. However, the team, being a new entity will start with zero points in the 2018 constructor's championship. The team drivers Sergio Perez and Esteban Ocon, though, will keep their points in the driver's standings.
FIA released a statement saying, "Following a disciplinary investigation and prosecution by the FIA under Article 4 of the FIA's Judicial and Disciplinary Rules, the Sahara Force India F1 Team has accepted its exclusion from the 2018 FIA Formula One World Championship with immediate effect, due to its incapacity to comply with Article 8.2 of the Sporting Regulations moving forward, and forfeits all Constructors Championship points under Article 6.2."
The new ownership was finalised earlier this month on the 16th of August. The new consortium of investors has agreed to all the terms in order to secure the future of the Silverstone-based F1 team.
The consortium of investors will be led by Lawrence Stroll (Father of Williams F1 Driver Lance Stroll). Along with Andre Desmarais (Canadian Entrepreneur), Jonathan Dudman (Monaco Sports & Management), John Idol (Fashion Business Leader), John McCaw Jr. (Telecommunications Investor), Michael de Picciotto (Financial Expert) and Lawrence Stroll's business partner Silas Chou.
Otmar Szafnauer, long time Chief Operating Officer, will continue with the new team as the Team Principal and CEO. While the Force India Deputy Team Principal, Robert Fernley has been asked to stand down. Apart from these changes, the senior management of the team remains unchanged.
The new team, now known as Racing Point Force India will continue their 2018 season in the same pink, white and blue livery.
Lawrence Stroll, stated, "Together with my fellow shareholders, we will invest in new resources and bring fresh energy to empower the workforce to continue racing at the very highest level. We are all passionate about motor racing; we recognise the racers' spirit in Force India, and we are extremely motivated to make this team even more special in the years ahead."
Otmar Szafnauer, Team Principal and CEO, added, "As we return from the summer break and prepare for the upcoming Belgian Grand Prix, I want to thank all the staff for their resolve and loyalty during the period of transition. Now that we are under new ownership and the future of the team is secure, we can focus on doing what we do best - going racing. We have a great management team in place and this stability will be extremely valuable as we begin the new era."
Thoughts On Racing Point Force India Formula One Team
The Sahara Force India F1 team were in the sixth position in the 2018 constructor's Championship. The team had secured 59 points, until the summer break this year. The team is one of the more competitive outfits on the grid, securing fourth place in the constructor's championship last year. The new team, Racing Point Force India will make its debut this week at the Belgium GP with zero points.