Adapted from GMM
Vijay Mallya on Friday denied reports he is close to selling his formula one team Force India.
Citing "sources", the Asian Age reports that the Indian billionaire is now "planning to sell" his Silverstone based formula one team.
The speculation comes after team owner Vijay Mallya recently decided to close his low-cost airline Kingfisher Red.
Linked with buying the team is Indian business conglomerate Sahara India, which already owns a premier league cricket team and sponsors the Indian cricket and hockey national teams.
"Sources say the deal is on the verge of being finalised and that an announcement to the effect is expected in a couple of days," the report said.
The Deccan Chronicle said initially that as billionaire Mallya was travelling he could not be reached for comment.
But Reuters later quoted him as saying in a statement: "No question of my getting out of Force India."
With his native India hosting its inaugural grand prix later this month, Vijay Mallya added: "I have even more reason to improve team performance when India comes on the formula one map."
Vijay Mallya on Friday denied reports he is close to selling his formula one team Force India.
Citing "sources", the Asian Age reports that the Indian billionaire is now "planning to sell" his Silverstone based formula one team.
The speculation comes after team owner Vijay Mallya recently decided to close his low-cost airline Kingfisher Red.
Linked with buying the team is Indian business conglomerate Sahara India, which already owns a premier league cricket team and sponsors the Indian cricket and hockey national teams.
"Sources say the deal is on the verge of being finalised and that an announcement to the effect is expected in a couple of days," the report said.
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| Photo: Force India F1 team |
The Deccan Chronicle said initially that as billionaire Mallya was travelling he could not be reached for comment.
But Reuters later quoted him as saying in a statement: "No question of my getting out of Force India."
With his native India hosting its inaugural grand prix later this month, Vijay Mallya added: "I have even more reason to improve team performance when India comes on the formula one map."