After protracted work by the administrators and the false hope of a potential buyer for the Marussia team, it's sadly been announced today by the administrators FRP Advisory LLP that the team was to officially close, and it's 200 hundred staff had all been made redundant. This news is a big blow to F1 on the eve of this weekend's Brazilian Grand Prix, and again will spark new debate on the need for both cost saving measures and a re-evaluation of the prize money distribution in F1. This news is especially shocking as the team appeared on a provisional 2015 F1 entry list under the Manor Grand Prix name only yesterday. Geoff Rowley, the joint administrator, commented today " It goes without saying that it is deeply regrettable that a business with such a great following in British and world motorsport has had to cease trading and close its doors. Whilst the team made significant progress during its relatively short period of operation, operating a F1 team requires significant ongoing investment." Rowley also added " The group was put into administration last month following a shortfall in on-going funding and the administration process provided a moratorium to allow for attempts to secure a long term viable solution for the company within in a very limited time-frame. Sadly no solution could be achieved to allow for the business to continue in its current form. We would like to thank all the staff for their support during this difficult process. The joint administrators will continue with their statutory duties to realise the assets of the business in the best interests of all the creditors. " This example will hopefully lead to cost saving measures in F1, and is especially crushing for the team as they were set for a big rise in prize money from FOM and Bernie Ecclestone after their superb 9th place points finish at this year's Monaco Grand Prix. For everyone in the team this will be a hammer blow as they are now unemployed, although hopefully at least a vast majority will be able to find jobs in motorsport soon. On the other struggling team front, it now appears the administrators for the Caterham team are relying on fan support and donations to increase their chances of making the Abu Dhabi Grand Prix in several weeks time. What are your thoughts on Marussia dissolving and how it came about?