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Marussia F1 goes into administration
The Marussia F1 team has been placed into administration and will miss this weekend's United States Grand Prix, it has been confirmed. As anticipated, following comments made over the weekend by Bernie Ecclestone that suggested neither Marussia nor the embattled Caterham team would be making the trip to Texas, the team's absence from the race has now been acknowledged. Confirmed by FRP Advisory, which will be taking on administration duties of the British-based outfit, it says current owner Andrey Cheglakov is unable to supply investment and the team hasn't raised enough financial backing to continue via its existing shareholders. "Whilst the team has made significant progress during...
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