Force India have again asked Formula One’s chief executive, Bernie Ecclestone, for a cash advance to help them pay suppliers as the sport continues its hand-to-mouth existence.
The team went to Ecclestone, who is thought to be supportive of the request, for an advance payment before the start of the season.
Force India’s deputy team principal, Bob Fearnley, said: “The only difference between what we did at the beginning of this year and what we are planning for 2016 is just bringing it forward a month or so earlier to cash flow it better.
“We don’t want suppliers suffering. We know we’ve got to draw down because we need it through the winter period because we don’t get any payments. We’re being a bit more proactive this year in making sure we’re ahead of the game rather than behind it.”
Force India missed most of pre-season testing and had to start with their 2014 car. Since then they have done exceptionally well with limited resources and with three races remaining are almost certain to finish in the top half of the constructors’ championship.
Force India and Sauber have asked EU authorities to investigate Formula One’s governance and distribution of revenues.
It was around this time a year ago that some teams, including Force India, threatened not to race in the US Grand Prix unless a more equitable payment structure was introduced. The smaller teams feel the pinch later in the year and it was towards the end of last season that Marussia and Caterham went into administration.
A year on, the future of Formula One is uncertain. The leading shareholder CVC Captial Partners has infuriated teams because it has made profits of about £4bn since buying in for £1bn in 2006 but it has been reluctant to invest that money back into the sport.
Now CVC is said to be at last looking for a buyer for its 35.5% interest, although the chairman, Donald Mackenzie, is still reluctant to let go. An American-Qatari consortium headed by Stephen Ross’s RES Ventures is the favourite to move in. Ecclestone said in Austin last week that F1 could have new owners before the end of the year.
Lewis Hamilton has already won the drivers’ title for a third time but the F1 season still has races in Mexico, Brazil and Abu Dhabi.
