Sahara India Pariwar announces co-ownership of the Force India Formula One Team with Dr. Vijay Mallya
New Delhi, October 12, 2011: Sahara India Pariwar, a leading promoter & patron of sports in India, today announced an equity investment in the Force India Formula One Team, India’s only F1 team. Subsequent to subscribing to new shares, Sahara India Pariwar becomes an equal shareholder of the Force India Formula One Team along with Dr. Vijay Mallya, Chairman of the UB Group.
The new logo of the Sahara Force India F1 Team, as the team will now be called, was jointly unveiled today by Saharasri Subrata Roy Sahara and Dr. Vijay Mallya, at a press conference in New Delhi today.
Sahara's joint partnership with the Force India F1 Team will provide an opportunity for the team to further invest in cutting edge technology to improve performance and achieve new heights.
On this occasion ‘Saharasri’ Subrata Roy Sahara, Managing Worker and Chairman, Sahara India Pariwar said, “India is reaching new heights in all spheres, including sports. Formula One car racing 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. I feel doubly proud that Sahara is the co-owner of India’s only F1 team and I am sure that through the Sahara Force India F1 Team, we will together bring pride and laurels to our beloved nation.”
The investment could not have come at a more opportune time as India looks forward to host the inaugural Indian Grand Prix at the Buddh International Circuit, Greater Noida and as millions of fans gear up to witness their Formula One dreams come alive in India.
Shri Subrata Roy Sahara conveys his high appreciation and heartfelt thanks to Dr. Mallya for including an India team on Formula One circuit and for guiding the Force India team to the current ranking of sixth position in the Formula One world championship.
Speaking about the partnership with the Sahara Group, Dr. Vijay Mallya, Team Principal and Managing Director of the Force India Formula One Team said, “I am delighted to welcome Saharasri Subrata Roy Sahara as Chairman of Sahara Force India. 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 Championships.
Saharasri Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar and Dr. Vijay Mallya, Chairman, The UB Group, announcing the co-ownership of the Force India Formula One team with Sahara India Pariwar, at a Press Confrence. The team will now be called 'Sahara Force India Formula One Team'.