Sergio Pérez reveals how he saved a failing F1 team

Sergio Pérez played a pivotal role in saving Force India from collapse in 2018, a move that ultimately led to the team's transformation into Aston Martin. The Mexican driver revealed how he took legal action to put the team into administration, ensuring its survival.

What happened?

In 2018, Sergio Pérez took decisive action to save Force India from financial ruin. The team, then owned by Vijay Mallya, faced severe financial and legal troubles. Pérez, who was owed unpaid wages, filed for administration to protect the team from a winding-up petition. This legal maneuver gave the team 90 days to find a new owner.

The High Court in London placed Force India into administration, allowing Pérez and his manager, Julian Jakobi, to secure the team's future. Pérez explained, 'I had no idea about law, but I was owed some money. They didn't pay my salary for the entire year.'

Why it matters for Sergio Pérez

Pérez's intervention was crucial in preserving the jobs of the entire team. Without his actions, Force India would have gone bankrupt, leading to significant job losses. Pérez's efforts ensured the team's continuity, which eventually led to its acquisition by Lawrence Stroll.

The team, now known as Aston Martin, has continued to compete in Formula 1, with Pérez playing a key role in its history. His actions during the administration period were a balancing act, as he had to manage legal meetings while preparing for races.

What comes next?

Under Lawrence Stroll's ownership, the team initially became Racing Point before transitioning to Aston Martin in 2021. Pérez's role in saving the team highlights his commitment to Formula 1 and his ability to navigate complex situations.

Pérez's story serves as a reminder of the challenges faced by F1 teams and the importance of decisive action in times of crisis. His efforts have left a lasting impact on the sport and the team that now competes as Aston Martin.