Marussia is now being managed by administrators.
Tag Archive: Telegraph
F1 risks sliding into crisis and having to reinvent its very DNA as struggling backmarker teams begin to succumb to collapse.
HRT folded in 2012, and now F1’s two other newest teams Caterham and Marussia are in the throes of financial administration. Organisers of next weekend’s US grand prix look set to welcome just 9 teams to an 18-car grid, unprecedented since BAR-Honda was banned for a time almost a decade ago.
Marussia is not commenting on claims it will sit out the next races and is on the verge of being put into the hands of administrators.
Amid Caterham’s well-documented troubles, Bernie Ecclestone revealed that Marussia will also sit out the Austin-Brazil double header. And F1 business journalist Christian Sylt claims the team has notified the High Court that it also intends to go into administration.
At least four major publications believe there are “growing concerns” about the health condition of seriously injured F1 driver Jules Bianchi.
Bernie Ecclestone has argued consistently that F1’s first visit to Russia should not be mixed with the country’s political situation.
F1 has made the 8,000 kilometre trek from Suzuka to the all-new Sochi Autodrom, but many are not in the mood to celebrate the sport’s latest destination. That is not just because the Russian grand prix is controversial in the shadow of the Ukraine conflict, with president Vladimir Putin slated to attend.
Mere days after the Suzuka race, F1 authorities are continuing to withhold official video footage of Jules Bianchi’s horror crash.
Ferrari could become the first F1 team to actually own a stake in the sport, the Telegraph reports.
F1 business journalists Christian Sylt and Caroline Reid reveal that, as a non-executive director of the sport’s holding company Delta Topco, departing Ferrari president held an option to buy into F1 to the tune of about $25 million.