New Delhi: With the Indian Grand Prix just around the corner, it was a sort of Diwali bonanza for Formula 1 lovers in India as Sahara India Pariwar became the partner for India’s only Formula 1 team – Force India, which is owned by Dr Vijay Mallaya.

In an announcement in New Delhi on Wednesday, Dr. Mallya revealed that the Sahara India Pariwar has invested USD 100 million in the team and as a result has bought over a 42.5 percent stake in the team. The move means that Sahara India Pariwar now co-owns the team with an identical stake owned by Dr. Mallya himself while the Mol family holds 15 percent. Subrata Roy Sahara, Managing Worker and Chairman of the Sahara India Pariwar is also now the Chairman of Sahara Force India.

The duo also unveiled the new logo for the team which incorporates the Sahara logo with the Force India logo in perfect synergy emphasizing the Tricolour of the Indian flag.

Subroto Roy said their aim is to take the team to newer heights. "Now we have joined hands with Vijay Mallya. We have to discuss the plans so that the team reaches to the top as soon as possible," Subroto said, hinting that he was interested in having an Indian driver in the team but also clarified that he was not in a hurry.

"In future, an Indian driver should be in the team but priority is the Indian team and not the drivers as of now. The result is also important," he said.

Mallya said he has plans to bring in an Indian driver in the team but not immediately. "I have never said that I am not interested in having Indian drivers. They do not suit me for whatever reason as of now. We are happy with the current team.

"We have selected 10 Indian guys from our talent hunt programme and trained them in Silverstone. The winner will be announced before the Indian Grand Prix and he will be trained further," Mallya said.