Force India’s losses fall with income rising
Force India made an operating loss in 2015 but the losses fell by S12.1 compared to 2014. In 2014 the team made a loss of $21.9m which fell to $9.8m in 2015.
The figures were boosted as the teams income rose from $86.4m to $92.7m last year. This is mainly thanks to the sponsorship brought by Sergio Perez and payments from FOM which have risen as the team has finished higher in the championship.
Last year’s fifth place in the constructor’s championship financial impact will be released in the 2016 results. The accounts noted that the team has going concern and that it “is still reliant on the continued support of its parent company Orange India Holdings Sarl and its shareholders”.
“management are confident that Orange India Holdings Sarl will continue to provide the company with sufficient funds to enable the company to meet its liabilities as they fall due for a period of 12 months from the date of signature of these financial statements [March 3].”
The team managed to pay of $5.6m loan to the Swiss bank Edmond de Rothschild and a $681,240 loan to Mexico’s America Movil was due to be repaid in April.
Baku will be ready – Whiting
Race director Charlie Whiting says he is confident that the Baku Street Circuit will be ready for next months Grand Prix of Europe following an inspection of the venue and its facilities yesterday.
Speaking to F1.com he said “you can see the quality of all the installations wherever you look. My next trip to Baku will be at the beginning of June and I’m expecting to be able to say it will be ready then.”
Whiting visited all parts of the track and looked the 7.6 metre narrow, uphill, winding sequence (Turns 8 to 11) past the city’s Old Town walls.
Whiting’s inspection also took in the ‘dual carriageway’ section of the circuit, as well as the main straight along Baku’s picturesque seaside boulevard. He says that the race will be fascinating with “Turns 8 to12 will probably be the most interesting, but so will the run from Turn 12 to 15, where the approach to Turn 15 in particular will be quite spectacular.”
He compared the track to Singapore but says the speed here will be much higher.
Struggles show our inexperience – Steiner
The team principal of Haas Gunther Steiner feels that the American teams struggles at the last two Grand Prix’s show there inexperience which has hurt its Formula 1 chances.
Haas made a good start in the first two races with Romain Grosjean finishing sixth in Australia and fifth in Bahrain before a wake up call in China when they had both cars out the points. Steiner says the last two races have shown there lack of experience and data relative to the competition was having an impact.
He Told Autosport “Again it shows if we get it right the car can do it and the driver can do it. The main thing is now we need to get more data to get better and better. We need to be better as a team to react to special situations.”
“At the moment we don’t have the experience to put it together, but once we have that we should be able to react quicker and to get a better set-up for qualifying.”
He says that the team will need a little bit of time and that Manor have the advantage as they have been in the sport for six seasons already.
Manor can jump Sauber – Wehrlein
Pascal Wehrlein says Manor is hoping that they can get ahead of Sauber at this weekends Spanish Grand Prix. All teams apart from Sauber will be hoping that upgrades will see them progress.
Sauber haven’t brought upgrades because the swiss team are struggling financially. While Manor who are appearing to progress following there collapse in 2014 will be bringing upgrades.
Wehrlein told Speed Week “I’ll have a new rear wing, a new front wing and a new floor. They are minor things but I hope nevertheless that it’s a good step forward for the car and we get the tyres to work better.
Adding “For sure Barcelona will not be easy, but in the last races we have always been in the fight with the Sauber guys and it would be nice if we can take another step forward now and get past them.”
Teams are intrested in me – Vandoorne
Stoffel Vandoorne has told Autosport that he is aware that other teams have interest in him but says his desire is to race with McLaren next year. Vandoorrne scored the team’s first point this season when standing in for the injured Fernando Alonso in Bahrain.
After being given a taste of Formula One the Belgian driver is keen to get a race seat t with McLaren for 2017, but has admitted to possibilities elsewhere. “There is definitely some interest around, which is normal” said Vandoorne.
“But I feel happy with McLaren. I have a contract here and my aim is still to be on the grid with them next year.” He added. This year Vandoorne is racing in Super Formula, where he finished on the podium on his debut he said the car “feels like the quickest I’ve ever driven around corners”, given the high levels of downforce.
Despite that, Vandoorne’s goal remains F1, adding “F1 is still F1. It’s still the pinnacle of motorsport. It’s going to stay exciting, the racing is good, the competition is very high as well, you race against world champions, and it has always been a dream to be there.”
One difference he says between the two series is tyres because unlike in F1 the tyre life tends to allows a driver to push for an entire race. But Vandoorne can see the merits in both types of tyre saying “The tyres are very different to what we have in F1.”
Not in contention to replace Ecclestone – Lauda
Niki Lauda has played down speculation that he is a contender to success Berine Ecclestone as the sports CEO when he resigns. The Mercedes non-executive director and three times world champion along with Ferrari’s Sergio Marchionne, backed by Mercedes chief Toto Wolff, is advocating that a group of three individuals replace Ecclestone.
Red Bull’s Helmut Marko told Tiroler Tageszeitung newspaper. “When I think about the sporting side, then for me Niki Lauda is one of the hottest candidates,” Red Bull official Dr. Helmut Marko told Austria’s Tiroler Tageszeitung newspaper.
F1 legend and Mercedes team chairman Lauda, however, is not racing away with the job. Lauda told Auto Motor und Sport “If some people here believe that it is easy to replace (Ecclestone), they are mistaken. Bernie still has 15 percent of the business, and only he was able to get our engine parts through customs that fast in Russia.”