Manor’s dead­line

Motor Sport News - - Racing News -

A bid has been made to buy out the ail­ing Manor Grand Prix team, Motorsport News un­der­stands. How­ever, it is un­der­stood to be sub­ject to agree­ment by this Fri­day [Jan 20] in or­der to be suc­cess­ful. Manor’s op­er­at­ing com­pany, Just Rac­ing Ser­vices Ltd, was put into ad­min­is­tra­tion re­cently and the team faces liq­ui­da­tion if it is un­able to se­cure fresh fund­ing. MN un­der­stands the of­fer is for all three Manor com­pa­nies – Just Rac­ing Ser­vices Ltd, Just Rac­ing Ltd, and Manor Grand Prix Rac­ing Ltd. If the Jan 20 dead­line lapses the bid­der could re-sub­mit a bid, but it would likely be lower due to the shorter timescale and in­creased cost of get­ting the cars back on the grid.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.