News Details

Ferrari, McLaren take a hit from Marussia collapse

Ferrari and McLaren stand to lose millions as a result of the collapse of the Marussia Formula One team, the Sunday Telegraph newspaper reported. It said documents from administrators FRP Advisory dated Dec 18 showed that Ferrari, Formula One's oldest and most successful team, were owed 16.6 million pounds (S$34.2 million) for engines supplied. McLaren, who had a technical partnership with Marussia, were owed 7.1 million pounds. The newspaper said Lloyds Development Capital (LDC), the private equity division of taxpayer-owned Lloyds Banking Group, was owed 13.2 million pounds, which was secured on all of Marussia's assets, unlike money owed to more than 200 other creditors. (Reuters)
Full Story »
10y ago from ThisIsF1.com 0
Share

You May Also Be Interested In...

American F1 team Haas acquired Marussia factory

Haas, the new American F1 team for 2016, has reportedly acquired...
10y ago from ThisIsF1.com

Lotus ‘opened the door’ to Alonso – Lopez

Lotus really was one of Fernando Alonso's options for the 2015 season,...
10y ago from ThisIsF1.com

Ferrari ‘vetoed’ F1 boss role for Montezemolo

More publications are reporting that Ferrari ‘vetoed' F1's move to...
10y ago from ThisIsF1.com

Engineer says Ferrari shakeup ‘impressive’

To some, the ‘restructuring' at Maranello in recent days and weeks...
10y ago from ThisIsF1.com

Elsewhere On The Network

Popular On MGPToday.com

MotoGP World Champion Marc Marquez confirms he will...

2025 MotoGP World Champion Marc Marquez has confirmed he will sit out the...
11h ago from MotorsportWeek.c...

Popular On IndyCarToday.com

Mark Miles teases possible non-championship...

IndyCar is largely considered a North American championship, with races...

IndyCar tire, brake testing completed on IMS oval

IndyCar staged a test at the Indianapolis Motor Speedway on Tuesday and...

Enzo Fittipaldi hails ‘productive’ test with Arrow...

Enzo Fittipaldi completed an IndyCar test with Arrow McLaren last week,...

Popular On TotalWRC.com

Popular On GunnersToday.com

Danny Murphy names European team that are 'on another...

Former Premier League midfielder Danny Murphy has backed Arsenal to beat...
45m ago from SportsKeeda.com

Danny Murphy names European team that are 'on a...

Former Premier League midfielder Danny Murphy has backed Arsenal to beat...
15m ago from SportsKeeda.com

Arsenal legend Thierry Henry names ex-Chelsea star as...

Arsenal legend Thierry Henry has named former Chelsea forward Eden Hazard...
6h ago from SportsKeeda.com

Paul Merson predicts Manchester United vs Brighton,...

After three straight losses in the Premier League, Liverpool returned to...
8h ago from SportsKeeda.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.