Force India has been placed into administration following a High Court ruling on Friday, with the team's current Formula 1 driver, Sergio Perez, and engine supplier Mercedes among the credit⭕ors pushing for the move.

Following many months of financial uncertainty, Force India was present for a hearing at the High Court in London where it was placed into administration, as confirmed to ltxcn.top following multiple reports on Friday night.

Whi🌱le this will not have any impact on the day-to-day running of the team, it allows officials to progress in the push to find a possible new buyer or secure fresh investment.

Perez called Forc𝄹e India's financi♔al situation "critical" earlier this week, but is understood to have been among the creditors pushing f🌟or Force India to ente🥂r administration, with a sum of around £4 million owed to the Mexican driver's group.

Mercedes is understood to have an outstanding total of more than €10 million relating to its supply of power units in recent🔯 years, and was also supportive of the admi𓂃nistration application.

The administrators are known to have identified a set of potential buyers for Force India, with the father of current Williamᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚs F1 driver Lance Stroll, Lawrence, being mooted as one possible investor. Current Force India development driver Nikita Mazepin's father has also been linked with a buyout.

Team owner Vijay Mallya, deputy team principal Bob Fernle🌟y and chief operating officer Otmar Szafnauer all remain in their positions. Fernley was due to appear in Friday's FIA press conference in Hungary, but was absent due to the hearing at the High Court.

Szafnauer agreed with Perez's earlier assessment that the team was in a "critical" financial situation, but was confident that fresh investment woul𝔍d 💟be arriving soon.

"We are just in this critical per♋iod, which mi𒅌ght last a week or two," Szafnauer said. "We have to keep our heads down, do the best we can here, go enjoy, after the test, enjoy our break and then come back fighting thereafter.

"I think [fresh investment is] imminent. I know there’s discussions going on in the background. I’m not privy to those because it’s a shareholde🍎r issue and I’m not a shareholder, otherwise I would know more. But it will be very soon."