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Featured Manor F1 Team Goes into Administration

Discussion in 'Formula 1' started by Paul Jeffrey, Jan 6, 2017.

  1. Paul Jeffrey

    Paul Jeffrey
    Sim Racing News Editor Staff Member Premium Member

    It has been reported that the Manor Racing F1 team have entered Administration on the eve of the 2017 Grand Prix season, as a deal to secure the future of the British outfit looks to have fallen through.

    Just Racing Serives Ltd, the company that operates Manor Racing, have appointed FRP Advisory LLP as joint administrators of the team as efforts continue to find an investor before the season begins at the Australian Grand Prix in March. Manor have been looking to find a new financial backer for the squad having been bankrolled for the last two years by OVO Energy's Stephen Fitzpatrick, who himself took over control of the team from successful British racing team Manor Motorsports.

    According to a statement from Geoff Rowley, Joint Administrator, the team are still searching for additional investment and no redundancies from the teams 200+ employees have been carried out so far.

    "The team has made significant progress under its new ownership since the start of 2015, the highlight of which included securing a constructors championship point in the preceding F1 season, but the position remains that operating a F1 team requires significant ongoing investment," he said in a statement.

    "During recent months, the senior management team has worked tirelessly to bring new investment to the team to secure its long term future, but regrettably has been unable to do so within the time available. Therefore, they have been left with no alternative but to place JRSL into administration.

    "The joint administrators are currently assessing options for the Group."

    "No redundancies have been made following JRSL's entering into administration and all staff have been paid in full to the end of December.

    "The ongoing staff position will however be dependent on whether new investment can be secured in the limited time available and the joint administrators will continue to review the ongoing financial position."

    The latest announcement is troubling news for the little British outfit. Coming off the back of a very successful season that yielded a World Championship point and with the team showing considerable improvements in their overall competitiveness from previous seasons, to still be struggling to find a suitable investor is indeed a worrying sign. With pre season testing fast approaching the squad may struggle to pull together a deal to save the team in the limited time remaining before the cars are due to hit the track for the first time in Barcelona.

    If Manor were to fold before the season begins, Sauber refugee Filipe Nasr may find himself out of options for a drive next season which would be a sad end to the likeable Brazilians short Grand Prix career.

    What do you think the chances of Manor appearing on the F1 grid in 2017? Does the administration announcement surprise you? Let us know in the comments section below!
    Last edited: Jan 6, 2017
    • Sad Sad x 9
  2. I hope Ron Dennis will come to the rescue :D
    • Like Like x 1
    • Haha Haha x 1
  3. Bram

    Administrator Staff Member Premium Member

    And here we go again. Now try to find an American investor instead of a Russian and return as MaTrumpia Racing next year.
    • Haha Haha x 9
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  4. What a (insert suitable swear word here) joke. The prize money system is in desperate need of change. Ferrari receive 105 million alone as bonuses, and in total 295 million is distributed to Red Bull, Ferrari, Mercedes, Williams and McLaren as bonuses. Now if this was equally distributed between the 11 teams, then Manor would have gotten an extra 27 million.
    • Agree Agree x 7
  5. fortyfivekev

    Premium Member

    Sad for the people working there and all the suppliers they probably owe money to. Wishful thinking, RB buys the team, gets the engine supply and we have a season on our hands. ;)
    • Agree Agree x 2
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  6. That's bad :(
    I miss 26 cars on the grid. It was great when you were watching on the track.

    The practice and qual was also much better with more action on the track.
    • Agree Agree x 1
  7. I rather liked "the little engine that could" in Manor. Sad to see them go, if that is the case. When are we going to see some other big name car manufacturers take the F1 risk? Toyota, Ford, BMW, Audi? Many of them compete in other classes of racing, why not step up and help out this team?
  8. airutonpurosuto8912


    Oh no... :(
  9. Indycar has a system like that and it is stupid. F1 need a full reg and, business rework to make things cheaper not a equal pay for all teams
    • Agree Agree x 1
  10. Bram

    Administrator Staff Member Premium Member

    That's a great idea :inlove:
    • Agree Agree x 1
  11. I don't know what the answer is, but F1 is going to go down hill soon with a limited playing field in my opinion.
    • Agree Agree x 1
  12. I wasn't campaigning for equal pay. I believe the bonuses should be distributed equally to the teams as a base payment and then they get the prize money for how well they perform on top of that. McLaren finished 2015 9th and got paid more than teams who outperformed them just because of a constructor championship bonus they didn't deserve

    I also believe in a cost cap and in making the sport cheaper, but them two scenarios are unlikely.
  13. and yet Feliper Nasr is still looking for a team to compete in 2017
  14. I really see no point backing a backmarker of the field, just leave F1 and keep doing other things.
    • Agree Agree x 1
  15. Ryan Soucy

    Ryan Soucy
    Premium Member

    And PREqualifying in the 80s/90s, when you have 6-8 cars fighting for the final 2-4 spots to fill out the 26.
    • Like Like x 1
  16. For starters there must be at least 2 very well backed drivers out there. Bring in a third paying kid as a test driver. Maybe a female driver with a superlicence to attract the media who will in turn draw in sponsors? Just my humblest opinion.
  17. Enter Carmen Jorda.
    • Haha Haha x 2
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  18. Volatile team for years since the marussia days, not really a surprise this has happened.
    It's likely that PW was told this sometime ago before making the sensible decision of jumping ship to sauber.
    "Trump F1" next new team? Could be...
  19. Erwin Greven

    Erwin Greven
    Premium Member

    Maybe Ferrari could turn it into an Alfa Romeo "junior" team. Just like Red Bull Racing / Scuderia Toro Rosso
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  20. Max Mosley must be elated he ignored better entries for the ill-fated teams he brought in.
    • Agree Agree x 1