Force India have agreed a deal to come out of administration and all 405 jobs with the team have been saved, the Formula One outfit have announced.
The deal has been agreed between the joint administrators, a consortium of investors led by Lawrence Stroll, and the Silverstone-based team's senior management.
The investors are Canadian entrepreneur Andre Desmarais, Jonathan Dudman of Monaco Sports and Management, fashion business leader John Idol, telecommunications investor John McCaw Jr, financial expert Michael de Picciotto, businessman Stroll and his business partner Silas Chou.< Stroll is the father of Lance Stroll, who currently drivers for the Williams F1 team.
An exclusivity agreement signed on Tuesday means that the team will be able to exit from administration, all creditors will be paid in full, all jobs will be saved and ongoing funding guaranteed.
Paul Di Resta has returned to racing touring cars after leaving Formula One team Force India, based at Silverstone in Northamptonshire.
Di Resta has switched to the German Touring Cars championship, DTM, rejoining Mercedes with whom he won the title in 2010.
Di Resta lost his place at Force India to Sergio Perez. But he feels his experience over the past three years will benefit his new team.
F1 racers Paul Di Resta and Adrian Sutil have held clear-the-air talks after the Chinese Grand Prix fracas.
The Silverstone-based Force India duo collided on the opening lap of last weekend's Chinese GP.
The Scot was forced on to the grass and resulting in a loss of several places down the order.
Sutil was later forced into retirement after Esteban Gutierrez ran into the back of the German, whilst Di Resta at least recovered to finish eighth.
The team-mates have spoken and said the matter is 'all water under the bridge'.
It's been reported that a mechanic for the Force India team, based at Silverstone in Northamptonshire, has escaped serious injury after being hit by one of the team's cars as it came into the pits.
Autosport magazine says it happened this morning during official Formula One testing at the Jerez circuit in Spain.
It says the car, piloted by test driver James Rossiter, hit the mechanic, who was holding the front jack, throwing him into the air. He was taken for medical checks but Autosport says he was just bruised and shaken.
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