Force India have agreed on a deal to avoid bankruptcy and to come out of administration, as an investment group led by Lawrence Stroll took over the team.
This will mean that all 405 jobs from the team based in Silverstone will be saved as a file for bankruptcy has been avoided now that the team has been taken over, and long-term security has been achieved.
The team's driver Sergio Perez started it all in July, claiming that the team told him to do it as it would get rid of a petition from another creditor.
Otmar Szafnauer, COO of Force India, was actively looking for new investors for the team, and worked with the administrator to do so.
"This outcome secures the future of the Force India team in Formula 1 and will allow our team of racers to compete to our full potential," Szafnauer told the BBC.
"I am delighted that we have the support of a consortium of investors who believe in us as a team and who see the considerable business potential that Force India has within F1 now and in the future."
More information will follow as it comes in.
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