Formula One has pledged to do everything it can to support the ailing Force India team after it went into administration at the end of last week.
Force India entered administration on Friday night after its driver Sergio Perez brought legal action against the team with the support of engine supplier Mercedes and main sponsor BWT. The action was intended to kick start the process of an ownership change, with Vijay Mallya currently fighting an attempt by the Indian government to extradite him from Britain to face charges of fraud, which he denies.
The newly-appointed administrators intend to run the team as normal -- including participating in this week's in-season test -- as they look to achieve the best outcome for its creditors in the long term. That will likely result in a new owner taking over the team and servicing its debts, with at least three credible parties said to be interested.
However, any potential new owners will be keen to ensure the team is entitled to its share of F1's prize money, which would usually be forfeited under a change of ownership unless the agreement of all nine rival teams can be secured. In the meantime, F1's managing director of motorsport, Ross Brawn, said the sport is doing everything it can to ensure Force India does not have to close its doors.
"Formula One will be doing all in its power to ensure the team survives and I truly hope that in the coming days and weeks its future is resolved," he said. "Over the past few years the Silverstone-based team has been an amazing example of what can be done with limited resources, showing that what you do and how you do it is much more important than the size of your budget."
Force India has finished fourth in the constructors' standings for the last two years and is currently sixth in this year's standings.