- Marussia
Marussia F1 team ceases trading
Marussia's administrators have confirmed the Formula One team has ceased trading and its employees have been made redundant.
The team's trading company, Manor Grand Prix Racing Ltd, went into administration ahead of the US Grand Prix, but despite efforts to find a buyer and revive the team ahead of the season finale in Abu Dhabi, the deadline for a deal passed on Friday at midday.
The team made a provisional entry for next year's championship, but without an investor willing to take on the team's entry fee and debts it will not take part in the 2015 championship.
Geoff Rowley, administrator at FRP Advisory, said: "It goes without saying that it is deeply regrettable that a business with such a great following in British and world motorsport has had to cease trading and close its doors."
Marussia was one of three small teams that came into F1 at the start of 2010 along with HRT, which folded at the end of 2012, and Caterham, which is also in administration. It originally raced under the Virgin Racing name before it was bought by small Russian sports car maker Marussia. Throughout its time in the sport the team was run by Manor Motorsport, which had enjoyed success in junior categories but had the odds stacked against it in the highest level of the sport.
Marussia scored its first points at this year's Monaco Grand Prix, but they were not enough to convince its Russian owners to continue funding the team. Its last race was at the Russian Grand Prix when it only fielded one car following Jules Bianchi's accident in Japan the week before that left the French driver with severe head injuries.
Caterham's administrators continue to look for a buyer but have made clear that a deal is needed soon to save the team from being wound up.
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