Vijay Mallya, the liquor baron and the owner of the Kingfisher Airlines, in the period between 2008 and 2010 had put in more than Rs. 156 crores in the Formula One Team. At the moment Kingfisher Airlines is facing tough times and statements regarding the baron’s investments into the F1 team instead of the airlines during times like these are not correct. The report that says Vijay Mallya invested money in the Sahara Force India team right before the beginning of the racing season in Australia is being denied.
Prakash Mirpuri, spokesperson for Vijay Mallya, has denied these statements. He said that the money invested into the Sahara Force India team was done through the Rs. 20 million investment of the Sahara Group. The earlier investments by Vijay Mallya for F1 were done by a personal investment firm called Watson that had put in Rs. 156 crores. The rest, Rs. 102 crores were invested by Mallya’s liquor businesses and Kingfisher Airlines.
The Sahara Force India team, at the Constructors’ Championships that was held last season, had come 6th. Vijay Mallya is now looking forward to see the team achieve more success at the Australian events.
The liquor baron seems to be spending lavishly on the F1; however, his airline pilots have not received any salaries. The company also seems to be in a critical situation and is taking help from the Indian public sector banks.
