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British-Indian brothers offer $90 million to bailout Marussia

British-Indian brothers offer $90 million to bailout Marussia

Snapshot: The company is currently owned by Russian billionaire Andrei Cheglakov.

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F1, though not a very popular sport here in India, has many Indian connections attached to it. Be it the Famous Sahara-Force India team or Mounisha Kaltenborn, Team Principal, Sauber F1 or Narain Kartikeyan and Karun Chandok, the F1 drivers or be it the famous Indian GP which was hosted for continuous three seasons before ending up in shelves due to bureaucratic issues.

Seems like F1 is ready for another India connection in the form of two British-Indian brothers, Baljinder Sohi and Sonny Kaushal, who have come forward to bail out Marussia. As we reported earlier, Marussia declared bankruptcy and not taking part in the coming Austin, Texas GP. The brothers have offered a deal worth $90 million to the company and confirmed to the Telegraph, that they are in talks with the company for the last few days and the talks are in the last stage.

Baljinder Sohi and Sonny Kaushal, a Conservative Party candidate for council election this year in Slough, made their fortune in the steel industry. “We are very close to a deal,” Sohi claimed. “But it has to be the right price. We have put in, a serious offer and we will see what happens." Marussia owes Ferrari 30 million pounds for the engines they used this year and the debt had to be paid by the brothers if the deal undergoes.

Sohi also said that Andy Webb, Marussia’s chief executive, approached them three weeks ago, to try to break a deal. It is understandable that Marussia will be desperate to complete the deal as soon as possible, to stay in the race for the rest of the season or at least start the next season. Finishing ninth in the constructors’ championship will bring them a ?40?million bonus.

The company is currently owned by Russian billionaire Andrei Cheglakov and the deal will be remarkable in itself, if it succeeds. The deal will save the 190 staff and the team on the verge of getting ninth place in the constructors’ championship. The team is still reeling from the Jules Bianchi’s accident at the Japanese Grand Prix earlier this month and would not wish to leave Formula One in such circumstances.

Read more about the Marussia trouble, here.

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