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!
Let’s play this year’s round of “who wants to buy a struggling Formula One team?” Manor is in desperate need of saving again, as they’ve put the company which runs the operations of the F1 team, Just Racing Services Limited, into administration, reports Sky Sports. Administration is Britain’s version of Chapter…
Despite their success at
promoting their business partners at Crowdcube crowdfunding Caterham's return for the last Formula One race of the season, the administrator over the team has opted to put the team's assets up for auction. They're done.
Bless his heart, Caterham adminstrator Finbarr O'Connell tried to field questions from the media, as he came along with the team to help head up the operation for the weekend. He looks about as out of place as it gets.
Marussia joins Caterham as the second Formula One team to enter into administration due to financial difficulties. Because of this, the administrators over the team confirmed today that Marussia will be missing the United States Grand Prix.