Marussia F1 Team will not be on the grid at the US Grand Prix. Marussia Formula 1 team, which competes with a Russian racing licence, declares bankruptcy.
As the situation is as bad as it gets, it was a logical decision to withdraw the team from the championship. In fact, it had to be done before the Grand Prix in Sochi; however, the owner of the Manor Grand Prix Racing Limited, which actually owns Marussia, postponed bankruptcy action. The reason for that lied in the fact that the Russian billionaire Andrey Cheglakov wanted his team to have a home race. But now the show is over.
“Marussia F1 Team had to introduce bankruptcy administration. Based on the current financial situation, the senior management team considers Marussia’s participation in the US Grand Prix to be economically unviable”, said Geoff Rowley, a joint administrator at FRP Advisory.
Though Marussia is left in financial limbo, there is still a chance it will continue the season. Especially since no cut in workforce is expected and all staff would be paid in full until the end of the month.
