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Marussia out of US GP as team enters Administration
The Marussia F1 Team have become the second Formula 1 team to enter administration in a matter of a week as they confirm they will not be competing in this weekend’s United States Grand Prix at Austin.
Manor Grand Prix Racing Limited, the trading company of the Marussia team, are now under the administrative jurisdiction of FRP Advisory LLP as a lack of funding to continue their fourth season of racing saw them enter administration.
'With the existing shareholder unable to provide the required level of funding, the senior management team has worked tirelessly to bring new investment to the team to secure its long term future,” said joint administrator Geoff Rowley in a statement. 'But...
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10y ago from TheCheckeredFlag.co.uk
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