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Force India agree deal to come out of administration saving 405 jobs

Force India have agreed a deal to come out of administration and all 405 jobs with the team have been saved. Credit: PA

Force India have agreed a deal to come out of administration and all 405 jobs with the team have been saved.

The deal has been agreed between the joint administrators, a consortium of investors led by Lawrence Stroll, and the 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 drives 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.

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Hulkenberg signs for Renault F1

Nico Hulkenberg. Credit: PA

Nico Hulkenberg believes Renault can play a "challenger role" in Formula One in the future after signing for the team from next season onwards.

The 29-year-old German was expected to be announced as Renault's first driver for 2017 and current team Force India released a statement on Friday morning confirming Hulkenberg would be leaving at the end of the year.

Now the 2015 Le Mans 24 Hour winner has been confirmed with the Enstone-based team on a multi-year deal, reported to be a two-year agreement with the potential for a third-year extension.

Speaking after the confirmation of his move, Hulkenberg paid homage to compatriot and seven-time world champion Michael Schumacher, who collected his first two titles with the team in 1994 and 1995.

"I'm very happy to join Renault Sport Formula One Team in 2017," he said.

"Renault has always been a big player in the motorsport world that brings up incredible memories : in his stint with Renault, Michael Schumacher not only helped make Germany an F1 nation, he also sparked my enthusiasm and fire for racing.

"As a part of the Renault family, I want to develop the car and write new success stories."

Rosberg on pole for F1 Singapore GP

Nico Rosberg. Credit: PA

Nico Rosberg left a beleaguered Lewis Hamilton trailing in his wake after he secured pole position for the Singapore Grand Prix in emphatic fashion.

Rosberg, who will start his 200th Formula One race on Sunday, was a crushing seven tenths of a second faster than an off-colour Hamilton would could qualify only third at the Marina Bay street circuit.

Daniel Ricciardo split the championship rivals after he hauled his Red Bull on to the front row, albeit half a second adrift of Rosberg's outstanding lap.

Ecclestone: Some F1 drivers are windbags

F1 chief Bernie Ecclestone. Credit: PA

Formula One chief executive Bernie Ecclestone has taken aim at the sport's revolting drivers by comparing them to "windbags".

Last week, the Grand Prix Drivers' Association, led by Jenson Button and Sebastian Vettel, took the step of writing an open letter in which they blasted the "obsolete" and "ill-structured" governance of the sport.

But speaking on the eve of the Bahrain Grand Prix, Ecclestone issued his own retort, claiming they were put up to the outburst by their teams.

Asked if the drivers were "windbags", Ecclestone replied: "Some of them". Pressed on which drivers he was referring to, the 85-year-old said: "The ones that are".

Ecclestone continued: "They [the drivers] can say what they like can't they? They can't do anything. They can give an opinion. Everyone has got an opinion.

"So really their discussion is with their team and the team has got a voice. They are only saying what the team have told them to say."

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