Manor F1 Takes Steps to Shut Down Before 2017 Season

Manor F1 Takes Steps to Shut Down Before Start of 2017 Season

After many months of trying to find an investor, team staff and employees of Manor Racing have been notified that all attempts have failed. Manor F1 has appointed FRP Advisory LLP as administrators of the Just Racing Services LTD, the company that operates Manor F1. Currently all 212 employees are still on payroll even with the season-opening Australian Grand Prix quickly approaching. Unless Manor is able to find funding immediately, the team is likely to shut down before the start of the 2017 season.

After many months of trying to find an investor, team staff and employees of Manor Racing have been notified that all attempts have failed. Manor F1 has appointed FRP Advisory LLP as administrators of the Just Racing Services LTD, the company that operates Manor F1. Currently all 212 employees are still on payroll even with the season-opening Australian Grand Prix quickly approaching. Unless Manor is able to find funding immediately, the team is likely to shut down before the start of the 2017 season.

FORMULA1

“The team has made significant progress under its new ownership since the start of 2015, the highlight of which included securing a constructors’ championship point in the preceding Formula 1 season, but the position remains that operating a F1 team requires significant ongoing investment,” said Geof Rowley, joint administrator for Manor. He then stated “During recent months, 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 JRSL into administration.”Manor F1 Takes Steps to Shut Down Before Start of 2017 Season

Manor Racing has struggled over the years and seen many transformations in an attempt to stay alive in the very competitive arena of Formula 1. Based out of Banbury, Oxfordshire in the United Kingdom, the team originally started racing under the name Virgin Racing in 2010. The following year Virgin adopted Marussia as a title sponsor becoming Marussia Virgin Racing until being fully rebranded as Marussia F1 in 2012. In February 2015, the team reemerged from administration as Manor Marussia F1 before being rebranded as Manor Racing at the beginning of 2016.


Related Story

Mick Schumacher to Mercedes as replacement for Nico Rosberg?

Formula 4 rising star Mick Schumacher, son of seven-time Formula 1 World Champion Michael Schumacher, is expected to sign a developmental deal with Mercedes to drive in the Formula 3 series for 2017. This surprising development comes on the heels of current Formula 1 champion, Nico Rosberg, announcing his retirement from the global racing series late last week. While the 17-yr-old prodigy will need more seasoning before racing at open wheel’s highest level, Mercedes appears eager to pen a deal with the young Schumacher before a slot opens at Ferrari.

Read More...

在极速维加斯驾驶异域名车: US$49+

极速维加斯让您尽情驾驶梦中爱车:摆脱速度限制和堵车的烦恼。

驾驶Ferrari 拉斯维加斯

驾驶Ferrari 488 GTB

FROM US$149

加入购物车
驾驶Lamborghini 拉斯维加斯

驾驶Lamborghini Huracán

FROM US$149

加入购物车
驾驶Porsche 拉斯维加斯

驾驶Porsche 911 GT3 RS

FROM US$149

加入购物车
驾驶Audi 拉斯维加斯

驾驶Audi R8 V10

FROM US$99

加入购物车
驾驶Shelby 拉斯维加斯

驾驶Shelby GT 500

FROM US$99

加入购物车
驾驶Acura 拉斯维加斯

驾驶Acura NSX

FROM US$99

加入购物车
驾驶Porsche 拉斯维加斯

驾驶Porsche 911 GT3

FROM US$99

加入购物车
驾驶Trophy 拉斯维加斯

驾驶Trophy Truck

FROM US$495

加入购物车
驾驶Baja 拉斯维加斯

驾驶Baja Truck

FROM US$395

加入购物车
驾驶APC 拉斯维加斯

驾驶APC Tank

FROM US$299

加入购物车
驾驶Corvette 拉斯维加斯

驾驶Corvette Z51

FROM US$69

加入购物车
驾驶Porsche 拉斯维加斯

驾驶Porsche Cayman 718

FROM US$69

加入购物车