The Manor team’s participation in the upcoming Formula One season has been cast firmly into doubt with the news that the squad has gone into administration. Whilst the overall business of Manor Grand Prix Racing, which is the rights owner to the F1 entry, still remains viable, the team itself has had the administrators bought in.
Reportedly there have been talks with buyers and a handful of seriously interested parties, but time is short and none of the deals have come through. Team boss and entrepreneur Stephen Fitzpatrick has made no secret of the fact he needed the team to finish tenth in the championship to get that vital funding boost, and unfortunately they finished 11th in the 2016 standings.
The same administrators have been brought in that helped the team through the off-season ahead of 2015, and investment was found then to save the outfit, but this time things are trickier and the administrators are left “assessing their options.”
Filed under F1Minute
References Stephen Fitzpatrick
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