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Manor F1 team facing administration ahead of 2017 season
The Manor Formula 1 team is reportedly nearing collapse ahead of the 2017 season as talks with potential investors have broken down. The team, which was rescued from bankruptcy by Ovo Energy owner Stephen Fitzpatrick in 2014, has been searching for investment and talks with two interested parties begun last year. American investment led by Tavo Hellmund came close to doing a deal in November, but it's believed Fitzpatrick refused to meet the valuation set out by Hellund and his team, whilst a second offer from an unknown consortium is also believed to have fallen through recently. That has left the team in a precarious financial position and Sky News reports that Just Racing...
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8y ago from GrandPrixTimes.com
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