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Marussia to Miss United States GP After Being Placed Under Administration

Marussia F1 Team

The Marussia Formula 1 team will not participate in the weekend’s United States Grand Prix after it was placed under administration.

Administrators appointed by the team, FRP Advisory LLP, confirmed that the team will not participate in the US Grand Prix this weekend due to a lack of funding.

Geoff Rowley, the joint administrator released a statement regarding the Marussia team being placed under administration:

“With the existing shareholder unable to provide the required level of funding, the senior management team has worked tirelessly to bring new investment to the team to secure its long term future, but regrettably has been unable to do so within the time available. Therefore, they have been left with no alternative but to place the Company into administration.

“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 1 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.

“No redundancies have been made following the Company’s entering into administration and all staff have been paid in full to the end of October. The ongoing staff position will however be dependent on whether the Company can secure new investment in the limited time available.

“We remain highly focused on engaging with interested parties.”

This is the second team to be placed under administration in as many weeks.

About Ritesh K Bhana

Ritesh likes to think he is a true Tifosi, but he still remains fair to other teams. He supports two other teams which are not Red Bull and McLaren. Follow Ritesh on twitter @Humanshield_1

2 Responses to “Marussia to Miss United States GP After Being Placed Under Administration”

Trackbacks/Pingbacks

  1. […] of the sport. It has led to the announcement that neither Caterham nor the Marussia team will be taking part in Texas this weekend. The great hopes once held for Caterham now lay in shards […]

  2. […] Marussia F1 Team was placed under administration last month after running into financial trouble. There was some news that there were two potential […]


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