It is very
likely that only 18 drivers with only 9 teams will take to the grid in Austin, Texas
on the 2nd of November for the United States Grand Prix at the Circuit of the
Americas as Marussia and Caterham look unlikely to compete, as both teams seek
solutions to their ongoing financial issues.
into administration last week according to the Formula 1 website, and as Jules
Bianchi, the Marussia driver, lies in hospital fighting for his life, his team
has had to face the same fate. Administrators for Marussia, FRP
Advisory LLP, say the team will continue to operate while they assess the
longer-term viability of the company, and that Marussia’s participation in the season’s
remaining rounds will depend on the outcome of that process.
Indian brothers have been rumored to be in talks with Marussia to purchase the
team. If they do manage to buy the Banbury based team, they will also inherit
the 38 million euro debt the company owes. But it has also been reported that the
financially struggling team has not made any redundancies amongst their staff.
Ecclestone had stated that both teams will miss the US Grand prix and their
cars will be shipped directly to Sao Paolo for the Brazilian Grand Prix.
Whether the teams’ problems will be solved by then for them to resume racing
for the final two races of the season is still yet to be seen.
also thought as a worst case scenario, if both the teams cannot compete in the
following season, maybe we can see 3 car teams in 2015. The new entries from
Haas F1 team and/if any other teams will only enter the sport from 2016.
and Caterham joined the Formula One grid in 2010, originally as Virgin and
Lotus Racing respectively. Both have enjoyed only limited success, with
Marussia securing their first world championship points in this year’s Monaco
Grand Prix and Caterham yet to score in 93 race outings. The Spanish HRT team,
the third team, who had entered the sport at the same time, had folded in the
end of 2012.
“Going into Administration” is a very powerful process for
gaining control, when a company is insolvent and facing serious threats from
creditors. The Court may appoint a licensed insolvency practitioner as
administrator. This places a moratorium around the company and stops all legal
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