Sergio Perez has revisited one of the most extraordinary off-track stories of his Formula 1 career, revealing how he took the dramatic step of placing Force India into administration to prevent the team from disappearing altogether.
Today, the Silverstone outfit competes as Aston Martin, but according to Perez, its future hung by a thread in the summer of 2018 as financial turmoil engulfed owner Vijay Mallya's operation.
Rather than standing by, the Mexican driver found himself thrust into a role few Formula 1 drivers ever imagine – working with lawyers to safeguard the team's future and the security of its employees while continuing to race every other weekend.
'You can save it'
Perez, who raced for Force India from 2014 until the team evolved into Racing Point and later Aston Martin, explained that the crisis first became apparent when unpaid wages were compounded by a far greater threat.
"I had no idea about law, but I was owed some money. They didn't pay my salary for the entire year,” he recounted, speaking on Jake Humphrey’s High Performance Podcast.
"We were having a bit of a delay, but then my manager told me that there was a winding-up petition from one of the suppliers that hadn't been paid. That means they can basically shut down the company, and the whole team will lose their jobs. I was like, 'wow,' and it was said, 'you can save it.'
"We (Perez and manager Julian Jakobi) did the whole process to put the team in administration before the winding-up petition came in, because if we didn't, the team would have gone bankrupt.
"All the people, all the team [would have lost their jobs]. So at the time it was Force India, which is now Aston Martin. Aston Martin wouldn't exist. We had 90 days to find a buyer, and luckily for the team, along came Lawrence [Stroll], who ended up buying the team while we were in administration."
The administration process ultimately opened the door for Lawrence Stroll's consortium to acquire the team, preserving hundreds of jobs and giving the Silverstone-based squad the platform from which it now competes under the Aston Martin name.
Balancing lawyers and lap times
While the legal battle unfolded behind the scenes, Perez still had to perform at the highest level on track – a challenge he admits pushed him into unfamiliar territory.
"It was crazy because all of this was happening in the summer, actually, during race after race. So I remember, before going into the car, having a conversation with lawyers, not understanding it at all,” he explained.
"I remember telling all my people around because it sounds bad, the driver is putting the team in administration. I remember talking to all of the staff at one of the races, and telling them, 'Look, I'm doing it because it's only right for everyone here. Otherwise, you guys are gonna lose everything, all your jobs and so on.'
“So I ended up explaining to them how it worked, and they were a lot more calm. I ended up trying to be the best lawyer I could be for the team, and the best driver, trying to separate when I had to jump in the car.
"You couldn't separate it at that point because it was at a stage that was very critical. So I was having meetings just before qualifying.
“I remember in one it was just before qualifying, like literally, with lawyers, and then I jumped in the car. And then before the race, instead of being with the engineers, I was in some other meetings, but I was there. I had to do it and have to save the team at that point as well."
Perez's account paints a remarkable picture of a driver juggling contract law and qualifying laps, insisting that saving the team – and the livelihoods of everyone within it – became every bit as important as delivering results on the circuit.
Read also:
Red Bull realized Perez's worth only after he left: ‘I overdelivered’
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