News Details
Mallya: I remain team principal
Vijay Mallya has denied speculation that he is set to lose control of Force India after agreeing a golden handshake with United Spirits. Last week the Indian businessman agreed to a $75 million pay-out in exchange for him stepping down as as chairman of the United Spirits Ltd, in which Diageo holds a controlling interest. This had led to some speculation that he would not only lose his IPL cricket team, Royal Challengers Bangalore, but also Force India. Mallya, however, insists he remains in control of the Formula 1 team despite Diageo now holding his shares. 'Nothing has changed at Force India. I remain team principal and managing director,' he told PTI. 'If you take loan, you give some...
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8y ago from PlanetF1.com
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