Force India to get investment boost

Updated 23 November 2012
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Force India to get investment boost

SAO PAULO: Force India will have a 50 million pound ($79.67 million) boost to help them move up the Formula One grid after a strong performance this year, the team’s co-owner Vijay Mallya announced on Wednesday night.
“We had a board meeting in India after the Abu Dhabi Grand Prix and the board has approved a 50 million pound capital investment program for the team,” he said in a preview for Sunday’s season-ending Brazilian Grand Prix.
“We are going to invest heavily in new technology and give more tools to our design team to try and move further up the grid.” Indian Liquor and aviation tycoon Mallya is principal of the British-based team that he co-owns with the Sahara Group, who have a 42.5 percent stake.
Force India are seventh overall on 99 points, 25 behind sixth-placed Sauber and 23 ahead of Williams in eighth, and are almost certain to stay in that position now unless they or Williams have an astonishing result on Sunday.
They finished sixth last year, but with only 69 points, and their current tally is the most they have managed since Mallya bought the struggling Spyker (previously Jordan) team in 2007.
“Every year we’ve demonstrated that we’ve gone up the ladder,” said Mallya. “And we’ve taken fairly significant steps, not just baby steps. Given the tools that we have, which are mostly of the Jordan era, we have done exceptionally well.” Sahara invested $100 million in Force India when they bought into the team in October 2011 and Mallya has said the money would be paid in three tranches over three years with the final installment due in 2013.
No details were given on Wednesday about the time frame for the latest investment.
Both Mallya and Sahara have attracted negative headlines recently, with the former’s Kingfisher airline grounded while the Sahara Group was ordered in August to refund about $4.6 billion to investors after India’s Supreme Court ruled finance schemes run by two of its companies were illegal.

Mallya, one of India’s richest men, also agreed a $2.1 billion deal this month to sell a majority stake in his United Spirits Ltd. to Diageo Plc.
Sunday’s race at Interlagos will be German Nico Hulkenberg’s last with the team before he moves to Swiss-based Sauber.
Hulkenberg, who has scored 53 of the team’s points so far, took pole position against the odds for Williams on his last outing in Brazil in 2010 and Mallya praised his contribution to Force India.
“Nico has been one of the stars this season. He’s delivered exactly what we expected of him and brought a lot to this team. He has a big future in Formula One and we wish him well,” said the Indian.


LeBron’s last-second shot gives Cavs 98-95 win in Game 5

James pushes the Cavaliers within one victory of advancing in the Eastern Conference playoffs. (Getty Images/AFP)
Updated 26 April 2018
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LeBron’s last-second shot gives Cavs 98-95 win in Game 5

  • James' 3-pointer buzzer beater puts Cavaliers within one victory of advancing in the Eastern Conference playoffs
  • James finished with 44 points, 10 rebounds, eight assists.

CLEVELAND: LeBron James hit a 3-pointer at the buzzer, a crowning moment for another brilliant performance, to give Cleveland a 98-95 victory over the Indiana Pacers on Wednesday night in Game 5, putting the Cavaliers within one victory of advancing in the Eastern Conference playoffs.
Moments after blocking Victor Oladipo’s possible go-ahead driving layup, James caught the inbounds pass, took two dribbles and dropped the winner over Thaddeus Young.
As Cleveland’s sellout crowd exploded, James hugged rookie teammate Cedi Osman before jumping on the scorer’s table to celebrate another of those moments that will define his career.
James finished with 44 points, 10 rebounds, eight assists and went 15 of 15 from the line.
Kyle Korver added 19 points and Cleveland’s much-maligned defense tightened just in time as the Cavaliers seized their first lead in the first-round series after being down 1-0 and 2-1.
Cleveland can close out Indiana with a win Friday night in Indianapolis.
Domantas Sabonis scored 22 points, and Young had 16 for the Pacers, who battled back to tie it 95-all on Sabonis’ 15-foot jumper with 33 seconds left. Indiana, which held Cleveland without a field goal for more than seven minutes during their fourth-quarter rally forced James into a turnover and had a chance to re-take the lead.
Oladipo, who shot just 2 of 15, drove the left side and was at the rim when James swooped in for a block on a play reminiscent of his Game 7 block on Andre Iguodala in the 2016 NBA Finals.
Oladipo’s shooting woes continued. He’s only 12 of 50 from the field in the last three games. He scored 32 in the Pacers’ Game 1 win, but the Cavs have been double-teaming him ever since.
The third quarter has been a major problem for Cleveland all season. The Cavs had tried everything to try and shake things up after halftime, even doing layup lines at the break in Game 4 like a high school squad.
Turns out, all it took was some defensive intensity.
Down by seven at half, the Cavs swarmed the Pacers in the third quarter, forcing five turnovers in the first six minutes and holding Indiana to one field goal over the first 6:52 while opening with a 19-3 run.
Cleveland outscored Indiana 32-17 in the third, when the Pacers shot just 5 for 16 (31 percent) and committed seven turnovers.
The Cavs were again without starting point guard George Hill, who missed his second straight game with back spasms.
DWYANE’S WORLD
James had enough to worry about with the Pacers that he didn’t want to discuss close friend Dwyane Wade’s future.
Miami’s star is mulling retirement after the Heat were eliminated Tuesday in Philadelphia. James spent four years playing in Miami with Wade, who began this season with the Cavs before being traded.
James said that following his last game against Wade he told him, “’If it’s like our last time going against each other, then it’s been everything and more.” James wants to wait for Wade to make his decision and will then “give a more in-depth analysis of his career if he decides to hang ‘em up.”
TIP-INS:
Pacers: Following Lance Stephenson’s aggressive, wrestling-like takedown of Jeff Green in the waning moments of Game 4, coach Nate McMillan said he reminded the fiery forward to be careful. “The officials are going to be watching that, Lance knows that and there are some times where I think they (the Cavs) are taking advantage.” ... Dropped to 2-12 in their last 14 games in Cleveland. ... James’ triple-double in Game 4 was the sixth against Indiana in the playoffs. James has done it to the Pacers three times.
Cavaliers: With his 21st 40-point game in the playoff, James tied the logo — Jerry West — for the second-most all-time. Michael Jordan scored at least 40 in 38 postseason games. .... Hill’s back has improved in the past few days, but he didn’t look close to playing while sitting stiffly in his locker-room chair before the game. ... Browns Hall of Fame running back Jim Brown sat courtside.
UP NEXT
Game 6 is Friday night at Indianapolis.