Formula 1: Who is buying Force India? A full rundown
By Kevin Nguyen
Rich Energy
Who: Rich Energy are a United Kingdom-based energy drinks company, which, according to the company’s website, were founded six years ago.
Likelihood of buying: Medium-low. Not much is actually known about the company and their motorsport ambitions. Despite being in the same industry as giants Red Bull and Monster Energy, they have no major sponsorship deals with those in motorsport.
Hours after it was announced that Force India had gone into administration due to court documents filed by Force India driver Sergio Perez, Rich Energy released a tweet claiming that a last-minute £30 million infusion to help Force India stave off administration was rejected.
While it appears that Rich Energy haven’t given up on buying the team, blasting the team’s lead driver for initiating administration proceedings might not buy the company any friends at the negotiation table, especially since it has been reported that Force India backed Perez to make the first move and don’t hold Perez at fault. In addition, Rich Energy’s finances are still a mystery, so one has to wonder if they even have the capital to buy the team despite their initial offering.
Why: It appears that Rich Energy are trying to create a public marketing persona through ownership. However, unlike Red Bull, which sponsor hundreds of events and teams outside of Formula 1 and have an established presence in Formula 1, a massive marketing team and a massive budget, Rich Energy do not have that kind of marketing clout, so diving head-first into Formula 1 is not a solid marketing strategy.