Marussia to miss US Grand Prix and go into administration

Second Formula 1 team in four days to go into administration

 Administrators said Marussia will “continue to operate”. Photograph:  David Davies/PA Wire

Administrators said Marussia will “continue to operate”. Photograph: David Davies/PA Wire

 

Marussia will miss the United States Grand Prix this weekend after becoming the second Formula 1 team in four days to go into administration.

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 comes hot on the heels of Caterham entering administration on Friday and being given special dispensation by F1 supremo Bernie Ecclestone to miss 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.

A statement from the administrator 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”.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
GO BACK
Error Image
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment.
Comment Sign In

Forgot password?
The Irish Times Logo
Thank you
You should receive instructions for resetting your password. When you have reset your password, you can Sign In.
The Irish Times Logo
Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.
Screen Name Selection

Hello

Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
Forgot Password
Please enter your email address so we can send you a link to reset your password.

Sign In

Your Comments
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.