Force India Formula 1 Team Seeks Advance On 2016 Championship Payments
|Hulkenberg in the Force India car|
The Force India F1 team requested an advance on its '16 championship money to help tide it "through the winter and pay suppliers," according to Alan Baldwin of REUTERS. Deputy Team Principal Bob Fernley said that "the request was for a payment similar to the one Force India received" from F1 CEO Bernie Ecclestone before the start of this season.
He 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 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." F1 teams "receive payments monthly, from February to the end of November, from the commercial rights holder."
Fernley said that "Ecclestone was supportive, despite Force India and Sauber last month asking European Union authorities to investigate Formula One's governance and distribution of revenues." Reuters