wombat666
Administrator
Marussia will not compete in the final two rounds of the 2014 FIA Formula One World Championship after administrators confirmed on Friday that they have been unable to find a solution for the team’s financial problems.
After going into administration late last month, Marussia were absent from the recent United States Grand Prix and news of the UK-based squad’s subsequent closure means they will take no further part in the current season.
"Whilst the team made significant progress during its relatively short period of operation, operating a F1 team requires significant ongoing investment,” commented joint administrator Geoff Rowley of FRP Advisory LLP. "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.”
Marussia joined the Formula One grid in 2010 as Virgin, before being taken over by the Russian sportscar makers ahead of the 2012 season. Though they enjoyed only limited success, the team had secured their first world championship points in this year’s Monaco Grand Prix.
Meanwhile, fans of Caterham, who have also missed the last two Grands Prix due to monetary issues, are hoping a newly-announced crowd-funding scheme might help the team return to the grid for the Abu Dhabi season finale in two weeks’ time.
Crowd-funding? I don't think so!
After going into administration late last month, Marussia were absent from the recent United States Grand Prix and news of the UK-based squad’s subsequent closure means they will take no further part in the current season.
"Whilst the team made significant progress during its relatively short period of operation, operating a F1 team requires significant ongoing investment,” commented joint administrator Geoff Rowley of FRP Advisory LLP. "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.”
Marussia joined the Formula One grid in 2010 as Virgin, before being taken over by the Russian sportscar makers ahead of the 2012 season. Though they enjoyed only limited success, the team had secured their first world championship points in this year’s Monaco Grand Prix.
Meanwhile, fans of Caterham, who have also missed the last two Grands Prix due to monetary issues, are hoping a newly-announced crowd-funding scheme might help the team return to the grid for the Abu Dhabi season finale in two weeks’ time.
Crowd-funding? I don't think so!
