The Force India Formula One team will come out of administration after a rescue deal involving a consortium of investors led by Canadian billionaire Lawrence Stroll.
As a result creditors will be paid in full and all 405 jobs at the Silverstone-based team, that was co-owned by embattled Indian businessman Vijay Mallya and finished fourth last year, are safe.
Stroll is the father of Williams F1 driver Lance.
Apart from Stroll, the investors named were Canadian entrepreneur Andre Desmarais, Jonathan Dudman, John Idol, telecoms investor John McCaw Jr, Michael de Picciotto and Stroll's business partner Silas Chou.
"This outcome secures the future of the Force India team in Formula One and will allow our team of racers to compete to our full potential," said the team's chief operating officer Otmar Szafnauer in a statement on Tuesday.
"I am delighted that we have the support of a consortium of investors who believe in us as a team and who see the considerable business potential that Force India has within F1 now and in the future."
Force India's driver lineup is Mexican Sergio Perez and Mercedes-backed Frenchman Esteban Ocon but Stroll, 19, now looks likely to move from Williams next season given his father's involvement.
Joint administrator Geoff Rowley said funding to support the team would be made available immediately with "significantly more" once the company emerged from administration.
He expected that to be within two to three weeks, with the team set to compete at the next race at Spa-Francorchamps in Belgium on August 26.
The team went into administration at the end of last month, with Perez triggering the process.
The Mexican had said he was owed more than $4 million ($A5.3 million) as part of sponsorship deals brought to the team, while engine provider Mercedes were due some 13 million euros ($A20.3 million). Leading sponsor BWT were also involved.
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