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Marussia closing in on F1 return
The former Marussia Formula One team moved a step closer to returning to the grand prix grid on Thursday after creditors approved a move allowing them to come out of administration. Administrators FRP Advisory LLP said in a statement that a Company Voluntary Arrangement had been agreed to allow control of Manor Grand Prix Racing, which traded as Marussia F1, to be passed back to directors. "The financial restructuring creates a platform for the company to continue with its plans to participate once again within Formula One," they added. No details of the restructuring, or investors, were provided although former team boss John Booth and sporting director Graeme Lowdon are known...
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10y ago from SuperSport.com
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