Marussia to miss Texas


Published: Tuesday 28th October 2014 by The News Editor

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Marussia will join Caterham in sitting out the United States Grand Prix this weekend after they also entered administration on Monday.

London-based administrators FRP Advisory said in a statement that Marussia will “continue to operate” but confirmed they would not take their place on the grid in Austin, Texas.

The news came three days after Caterham went into administration and were given special dispensation by F1 supremo Bernie Ecclestone to miss both the US and Brazilian grands prix while a buyer is sought – a courtesy that has also been extended to Banbury-based marque Marussia should they need it.

Acting on behalf of Manor Grand Prix Racing Limited, which trades as the Marussia F1 team, one of the joint administrators – Geoff Rowley – said: “With the Marussia F1 team now in administration, the joint administrators have assessed that, given the current financial circumstances of the group, it is not viable for the Marussia F1 team to participate in the next race, the 2014 Formula One United States Grand Prix, due to take place this weekend in Austin, Texas.

“The company will continue to operate while the joint administrators assess the longer-term viability of the company in its present form.

“Following Austin, there are two further rounds of the 2014 championship remaining, in Sao Paulo and Abu Dhabi, and the team’s participation in those races will depend on the outcome of the administration process and any related negotiations with interested parties in what is a very limited window of opportunity.”

The statement confirmed that no redundancies had been made following the decision to enter administration, but the ongoing staff position will be “dependent on whether the company can secure new investment in the limited time available”.

On October 20 a company known as Caterham Sports Limited (CSL) went into administration, with London-based accountancy Smith & Williamson taking control.

CSL supplies and makes cars for 1MRT, the entity which owns the licence for Caterham to race in F1, and following a few days of uncertainty last week the administrators were also handed full-management responsibility for the team.

Like Caterham, Marussia entered F1 at the start of 2010, but since then F1’s costs have soared and their joint absence this weekend means there will only be 18 cars on the grid – the smallest field since the 2005 Monaco Grand Prix.

Former FIA president Max Mosley has warned that Marussia and Caterham “may not be the last” teams to struggle in the face of F1’s high costs.

“It’s not a fair competition any more,” Mosley told BBC Radio Five Live. “The big problem is that the big teams have so much more money than teams like Caterham and Marussia.”

Published: Tuesday 28th October 2014 by The News Editor

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