MANOR COLLAPSE

The op­er­at­ing com­pany has ceased trad­ing, but there re­mains a pos­si­bil­ity that the team it­self could still make it to the grid

F1 Racing - - INSIDER -

The Manor team has col­lapsed, and only the slimmest of hopes re­main that it can be re­vived in time to race this sea­son.

The team’s op­er­at­ing com­pany, Just Rac­ing Ser­vices, en­tered into ad­min­is­tra­tion on 6 Jan­uary and ceased trad­ing on 27 Jan­uary af­ter ad­min­is­tra­tors failed to nd a buyer. Staff were made re­dun­dant on 31 Jan­uary fol­low­ing pay­ment of their salaries for that month.

A num­ber of po­ten­tial buy­ers had ex­pressed in­ter­est, in­clud­ing a con­sor­tium rep­re­sented by Amer­i­can busi­ness­man Tavo Hell­mund, the founder of the US GP in Austin, and another led by In­done­sian busi­ness­man Ri­cardo Ge­leal, who owns the KFC fran­chise in his re­gion and spon­sors a team in GP2, but ul­ti­mately nei­ther of these deals could be com­pleted.

Manor Grand Prix, the com­pany that owns the rights to com­pete in F1 and be paid prize money, is a go­ing con­cern, but would need to be bought out for the team to be re­vived.

The team were in an even worse sit­u­a­tion two years ago, be­fore they were res­cued by busi­ness­man Stephen Fitz­patrick, who has run Manor for the past two sea­sons. There is a small chance that some­one could pur­chase Manor Grand Prix and then buy the equip­ment needed from Just Rac­ing Ser­vices’ ad­min­is­tra­tors.

Manor have been given per­mis­sion by the FIA to start the sea­son with their 2016 cars con­verted to com­ply with the 2017 rules, and work con­tin­ued on these through Jan­uary. Manor staff even tweeted a pic­ture of a model of their 2017 car on the day the news of the team’s collapse broke.

But the longer the de­lay, the less likely the team are to sur­vive. As F1 Rac­ing closed for press, there was no ob­vi­ous prospect of a res­cue on the hori­zon.

Manor had per­mis­sion to race with a 2016 car con­verted to com­ply with the new rules

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.