However, its financial results have reversed over that time and the decline began in Mallya’s first full year of ownership. Mallya bought the team in September 2007 and since then its performance has accelerated as it finished fourth last year, six places higher than a decade earlier.
It is understood to have bought a 40% stake giving the team a $150 million value which is more than it was worth 20 years later. When the team finished 1998 $2 million (£1.5 million) in the red Jordan sold a stake to the private equity firm Warburg Pincus for a reported $60 million. There was no precedent for F1 teams being given blockbuster loans so Jordan was more limited in how he could cover a loss. The eponymous team was founded and owned by Eddie Jordan who was a former banker not a billionaire with bottomless pockets. There is good reason why Jordan Grand Prix made a net profit in those days. As Force India's costs accelerated, so too did its losses Complete data for 2017 has not yet been released by the administrators and full financial results are unavailable for the team’s first two years as its status as a small company meant that it wasn’t obliged to file them.
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