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Vijay Mallya dismisses fear of Force India cash crunch

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Force India formula one team fans as well as general formula one fans can heave a sigh of relief as it turns out that rumours of Force India F1 team being the next team out of formula one due to a cash crunch turned out to be just that, rumours.

Owner Vijay Mallya said that his team is different from giant Honda who pulled out of formula one last weak amid a weak financial situation. It was said that with Mallya’s many ventures also facing declining profits, the Force India F1 team might just pack up. But the boss cleared all doubts and theories.

In an interview , Vijay Mallya had the following to say :

“Clearly one has to be concerned about what is happening in the world today,” he said

“Honda’s withdrawal was not a shock to me as I could well imagine that on one hand with global sales and profits under pressure, the first thing that any independent board member would say is ‘what are you doing with a Formula One team?’

“It’s unfortunate but true that we have to cut our costs and live in the real world and balance both income and expenditure. From the sponsor side as well, people are cutting down budgets, so it’s not going to be very easy to get anyone to write out large cheques for sponsorship either.

“Force India is in a good enough position, it’s a smaller team with a much smaller budget than the big boys and so it is probably relatively easier for us to manage under these circumstances.”

Vijay Mallya seems to be at his reassuring best atleast for the interview.

Written by Formula One Addict

December 13th, 2008 at 8:23 pm

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