The FIA has confirmed the new Racing Point Force India team has been granted an official entry into Formula One from this weekend’s Belgian Grand Prix.
The autosport body and the new owners of the former Force India team have been working to finalise a new entry and new team for the Silverstone-based outfit following intense scrutiny of the legal situation surrounding the takeover by a consortium led by Lawrence Stroll. The FIA has subsequently approved an all-new entry.
The conditions of Racing Point Force India’s entry requires that of its former team’s to be officially annulled, forfeiting any previously gained constructors’ championship points, with the FIA ruling that the team is excluded from the world championship with immediate effect.
Racing Point had hoped to keep the rights and prize money accrued by Force India, but this will not be the case as the new owners could not secure a unanimous agreement from the other Formula One teams to approve the measure.
McLaren, Williams and Renault had been objecting to aspects of the Force India sale amid concerns that the outfit would become a Mercedes B team and at least one of them has refused to acquiesce.
Despite the lack of universal support for the new team in the paddock, Racing Point’s team principal Otmar Szafnauer is pleased to be staying on the grid.
He said: “This heralds a new and exciting chapter for us. Just a few weeks ago, an uncertain future lay ahead, with more than 400 jobs at risk. Now the new team has the backing of a consortium of investors, led by Lawrence Stroll, who believe in us as a team, in our expertise and in our potential to achieve success on the track.
FIA president Jean Todt added: “I am very pleased that a strong, positive outcome has been reached and welcome the mid-season entry of Racing Point Force India.
“Creating an environment of financial stability in Formula One is one of the key challenges faced by the sport, however thanks to the hard work of the FIA, the Joint Administrators, Racing Point and Formula One Management we have a situation now that safeguards the future for all of the highly-talented employees, and will maintain the fair and regulated championship competition for the second half of the season.”