According to the administrators, the Marussia F1 team has officially folded and around 200 staff have been made redundant.
According to the BBC website and others, the administrators had set a deadline for noon today (7th November) for investment in the team in order to maintain it as a going concern, but despite the interest of a number of potential buyers, nothing has been agreed, and the team has officially been dissolved.
What this means for the 2015 F1 entry for Manor F1 isn’t yet completely clear. They’ve been confirmed in the official list of entrants, but that would be dependent on them:
- having a car
- having drivers
- being able to afford transportation costs
It’s not clear whether they have any of these, as there’s been no real discussion about what Marussia have been putting together for the 2015 season.
Had the team managed to survive, they would have been entitled to somewhere in the region of $50 million in prize money for finishing 9th in the constructors championship, however it now appears that that will now pass onto Sauber.
It’s a real disappointment for fans of the team, but not entirely surprising given the developments over the last couple of months.
Marussia (then Virgin Racing) entered the championship in 2010 under the agreement that there would be a £50 million budget cap, however this was never implemented and the team have suffered with being unable to get the necessary funds to develop a car to get them up the grid despite having technical support from Ferrari as part of their deal for Bianchi and considerable Sponsorship money coming in for running Chilton.
There is still a slim possibility that the entry can be rescued – the team and assets are still to be sold off, but it’s highly unlikely that we’ll see them again this season, if ever.