Oct.7 (GMM) Force India may be close to being sold, according to reports.

The speculation comes after team owner Vijay Mallya recently decided to close his low-cost airline Kingfisher Red.

Citing "sources", the Asian Age now reports that the Indian billionaire is now "planning to sell" his Silverstone based formula one team.

Linked with buying the team is Indian business conglomerate Sahara India, which already owns a premier league cricket team and sponsors the Indian cricket and hockey national teams.

"Sources say the deal is on the verge of being finalised and that an announcement to the effect is expected in a couple of days," the report said.

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