Another year, another Formula One backmarker in financial strife. This year, it’s Manor’s turn again. Because every expenditure must be deemed necessary by an administrator handling all of their finances, they aren’t even being allowed to start making parts for their 2017 F1 car, per Motorsport.com. Ouch!
Just Racing Services Ltd., which handles the day-to-day operations for the Manor F1 team, has next year’s car design ready to go, but administrators are blocking extra spending to protect creditors.
Apparently making the F1 car is deemed unnecessary when you’re not sure you’re even going to make the grid this year.
Manor Technical Director John McQuilliam, who has been with the team since 2009, resigned from the team on Dec. 30 expecting a team sale that never happened. However, administrators handling the team told Motorsport.com that McQuilliam is still working to ensure that next year’s car still happens.
One source told Motorsport.com that Manor needs to find the cash to run the 2017 season by January 20, or it’s all off.
That’s a tight deadline, but it makes sense given that they need to give themselves ample time to, you know, make the car.