14 Oct 2011

Sahara take 42 percent stake in Force India F1 team

7:14 am on 14 October 2011

The Indian business conglomerate Sahara group has invested $125 million in Force India and taken a 42.5 percent stake in the Formula One team which it now co-owns with liquor baron Vijay Mallya.

The flamboyant Mallya will remain the team principal of India's only Formula One team, to be now known as Sahara Force India.

The Sahara group, which also sponsors the Indian cricket team, bid $460 million this time last year to become owners of the Pune franchise in the Indian Premier Cricket League.

India is set to host its maiden Formula One grand prix on the 30th of this month in Delhi.