x Abu Dhabi, UAESaturday 20 January 2018

Mallya explains move

The Force India owner hopes that his team's suspension from the Formula One Teams' Association will be lifted.

The Force India owner Vijay Mallya is hopeful that his team's suspension from the Formula One Teams' Association (FOTA) will be lifted despite them unconditionally entering next year's Formula One World Championship. Mallya said his team's actions had been forced by bank commitments. He said: "As you would in any business, you go to a bank and demonstrate sources of income. "The sources of income are from sponsorship and the disbursement of moneys, arising out of the television income. Both these sources of income, which are sources of comfort for banks to lend money, would have been under threat if our entry was not accepted."

He said he had explained his actions to FOTA, and added: "If they appreciate it, well and good. If they don't appreciate it, why should I lose sleep over it?" "I am doing what is good for Force India, first because I have a duty to comply with my legal obligations." * Reuters