Vijay Mallya rules out Force India sale

Mumbai: Force India Chairman Vijay Mallya has no plans to sell the Formula One team and has pledged a long-term commitment ahead of the country's maiden grand prix later this month.

Media reports in India had said the liquor baron was in talks to sell the team to business conglomerate Sahara Group.

"No question of my getting out of Force India," Mallya, said in a statement.

The inaugural Indian Grand Prix is scheduled for October 30 at the 120,000-capacity circuit on the outskirts of Delhi.

Mallya also owns India's second-largest private airline Kingfisher and recently announced plans to exit the low-cost part of the airline business in the next four months and focus on the premium model to reduce debt.

The inaugural Indian Grand Prix is scheduled for October 30 at the 120,000-capacity circuit on the outskirts of Delhi.

"I have even more reason to improve team performance when India comes on the Formula One map," Mallya added.

Force India, whose current drivers are German Adrian Sutil and Britain's Paul Di Resta, are currently placed sixth in the constructor standings.

(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)