Marussia follow Caterham into administration before US GP

Discussion in 'Formula 1' started by Connor Caple, Oct 27, 2014.

  1. Connor Caple

    Connor Caple
    Slowest Racer in Town...

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    Marussia have become the second Formula One team in a matter of days to be placed in administration.

    The London-based restructuring and recovery firm FRP Advisory has taken on the role of administrator, and confirmed Marussiawill miss the United States Grand Prix in Austin.

    A statement from FRP confirmed the company, known as Manor Grand Prix Racing Limited and trading as Marussia F1 Team, “will continue to operate while the joint administrators assess the longer-term viability of the company in its present form”.

    Caterham entered administration on Friday and have been given special dispensation to miss the next two grands prix while a buyer is sought. Last Monday a company known as Caterham Sports Limited also went into administration. CSL supplies and makes cars for 1MRT, the entity which owns the licence for Caterham to race in F1.

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