Vijay Mallya's Force India F1 team put into administration by London court

Force India are currently in Budapest and will continue to prepare for Hungarian Grand Prix

Vijay Mallya's Force India Formula One team has been put into administration after a court hearing in London on Friday, deputy principal Bob Fernley said.
 

"An administrator was appointed by the court for Force India F1 this evening," he confirmed to Reuters.

The team's chief operating officer Otmar Szafnauer told reporters earlier that the team might have to enter some form of administration before it could emerge on a sounder financial footing.

Force India are currently in Budapest and will continue to prepare for Sunday's Hungarian Grand Prix, the last race before the August break.
 

A source close to the matter told