Force India set for rebrand, to remove India from F1 team's name

Silverstone: Force India is set for a rebrand that strips the Formula One team of its association with the South Asian nation.

The decision comes just as team co-owner Vijay Mallya is fighting extradition from Britain to his native India on charges of money laundering, and bank demands that he pay back more than a billion dollars in loans to his now-defunct airline.

Mallya, though, insists taking India off the livery would not be an act of retaliation over his legal strife but due to the lack of Indian sponsors investing in the team.

"I've been charged with a whole variety of things but let that be kept to one side and let the legal process take its own course," Mallya said on Friday at the British Grand Prix."We need to cater to the needs of sponsors who have global businesses, and sponsoring Formula One isn't exactly cheap."

"It was the first time an Indian team showed up on a Formula One grid," Mallya said. "It met the aspirations of millions of young Indians who never thought that would be possible."

"We have always had a limited budget compared to the big teams," Mallya said. "If we get more sponsors we might spend a little bit more money, but I wouldn't spent all of it. I would give some back to shareholders because I don't believe that money can necessarily ensure that I'm going to be at the front of the grid.

Mallya is not due in court again until Dec. 4 when a London judge plans a full hearing on his extradition to India. The tycoon, who moved to Britain in March 2016, was arrested here in April and has been free on conditional bail.

Mallya, who is famed for his flashy lifestyle and lavish parties attended by fashion models and Bollywood stars, denies the allegations of financial wrongdoing.