- Marussia
Marussia confident of 2015 rescue deal
Marussia is closing in on a rescue package which will enable it to return in time for the first race of the 2015 season.
The team went into administration last October and missed the last three races of the season but can still return this year as Manor Grand Prix still holds its entry for 2015. An auction of old assets took place in December but another scheduled for Wednesday - which involved parts essential for the team's comeback - has now been postponed as the rescue deal is worked on.
Team boss John Booth told the BBC: "Postponing the auction gives us a bit more time to explore it," adding that confidence is "pretty high" that a deal can be completed.
Marussia collapsed with £31 million debt, with a huge £16.6 million owed to engine supplier Ferrari. Marussia and Caterham, which also went into administration last year, have already been given permission to use their 2014 cars this season if necessary.
Over the weekend former sporting director Graeme Lowdon told Sky Sports: "Technically it's possible. Manor has been in motor racing for a long time. It's a very precious team and means a lot to a lot of people and a lot of fans as well. We're working very, very hard - it' not easy - it's still certainly possible for the team to get there and I think it would be good news for Formula One and it would be good for our fans. It's a very precious and special thing when you are involved in the team so it's not something you want to let go very easily."
A deal will need to be completed in the next few weeks if the team is to race in Melbourne on March 16.
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