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Marussia to exit administration
Marussia's administrators have announced that the beleaguered team will exit administration on February 19 via a Company Voluntary Arrangement.The Banbury-based squad missed the final three races of the 2014 season after their Russian backer, Andrey Cheglakov, pulled his backing following the Grand Prix in Sochi.Cheglakov's Marussia Motors company had folded in April 2014 without producing a road car during its seven years in business.A planned auction of the team's remaining assets was cancelled in January – something former president Graeme Lowdon said was key to their survival – and they hold an official entry for the 2015 F1 season as Manor Grand Prix Limited."It...
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10y ago from SkySports.com
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