FIA allows Racing Point Force India mid-season F1 entry

The FIA has accepted a mid-season entry from the rebranded Racing Point Force India team ahead of this weekend's Belgian Grand Prix, ensuring its participation in the race.

Force India entered administration over the Hungarian Grand Prix weekend following mounting financial issues, only for the team to be saved via its sale to a consortium including Lawrence Stroll, the father of Williams driver Lance Stroll.

However, as Stroll only bought the assets of the team and not the entry to the F1 world championship - still held by Force India Formula 1 Team Limited - the team was required to re-enter the championship as a new entity, with unanimous approval required from the rest of the grid to permit its addition to the grid.

Following talks with teams and officials on Thursday, the FIA confirmed in the publication of the entry list for this weekend's Belgian Grand Prix that Force India had been rebranded as Racing Point Force India.

The existing Force India team has been excluded from the F1 constructors' championship and will forfeit all of its points. Racing Point Force India will start on zero points in the championship, but drivers Esteban Ocon and Sergio Perez will keep their points, with both having effectively switched teams mid-season.

Former Force India chief operating officer Otmar Szafnauer has been appointed as the new team's team principal and CEO

"The Fédération Internationale de l'Automobile (FIA), has today, 23 August, accepted the mid-season entry of Racing Point Force India with immediate effect to the FIA Formula One World Championship in accordance with Articles 8.1 and 8.2 of the 2018 Formula One Sporting Regulations. This means the team will race this weekend at the Belgian Grand Prix," a statement from the FIA reads.

"Since the Force India Formula One Team Limited was placed into administration on 27 July, the FIA has worked in collaboration with the Joint Administrators (Geoff Rowley and Jason Baker of FRP Advisory LLP), Racing Point UK Limited and Formula One Management to ensure the expedient and compliant transition of the team’s assets to the new entrant. This successful process has protected motor sport competition at the highest level, as well as the jobs of over 400 employees.

"Following a disciplinary investigation and prosecution by the FIA under Article 4 of the FIA’s Judicial and Disciplinary Rules, the Sahara Force India F1 Team has accepted its exclusion from the 2018 FIA Formula One World Championship with immediate effect, due to its incapacity to comply with Article 8.2 of the Sporting Regulations moving forward, and forfeits all Constructors Championship points under Article 6.2.

"The Joint Administrators of Force India Formula One Team Limited have completed the sale of the business and its assets to Racing Point UK Limited, the investment consortium led by Lawrence Stroll and the team’s senior management."

FIA president Jean Todt said: "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.”

"We are very pleased that the situation around Racing Point Force India has been resolved and that the team will continue to race in Formula 1," added F1 CEO Chase Carey.

"It is also very gratifying that in partnership with the stakeholders involved we have been able to safeguard the livelihoods of the many hundreds of people working at its Silverstone base. It's enormously important that we have a full grid of competitive, capable teams in Formula 1 and we are confident that Racing Point Force India will go from strength to strength in the future."