Marussia confirms its takeover by its administrators

The US Grand Prix in Austin (Texas) contested this weekend will therefore only feature 18 cars. Marussia F1 Team confirmed its absence, citing a financial situation that was too complicated to continue the competition. As Caterham, its management has been entrusted to its administrators who will have the difficult task of finding new investors as quickly as possible.

“Although the team has made significant progress during its relatively short period of operations, culminating in the two points won in the Manufacturers' Championship (at the Moanco GP with Jules Bianchi's ninth place), the management of a F1 team requires significant investments,” FRP Advisory LLP, the administration company, said in a statement. “With the main shareholder unable to provide the necessary funds, the team worked tirelessly to find new investors to secure its long-term future but unfortunately did not succeed in the time allocated. They had no other alternative than to put the company under administration control. Given the financial situation of Marussia F1 Team, it was no longer viable for the team to participate in the next race. »

The future of Marussia F1 Team seems less worrying as the end of the season arrives next month. “There will be two more events after Austin, in Sao Paulo (November 9) and Abu Dhabi (November 23). Participation in these tests depends on the solutions found by the administration and the negotiations undertaken with the interested parties in this very short period of time. No layoffs were made following this takeover and all staff were paid until the end of October. »