New Investor Emerges to Save Marussia and Stops Auction

Marussia could finally wake from its state of redundancy after a new stable investor emerged leading to fresh negotiations. This has led to the postponement of their scheduled auction that was meant to sell off their cars and equipment in order to pay back their creditors. The new move could see the Banbury-based team jump back into the new season should the negotiations be deemed successful.

Team Principal John Booth toldtold the BBC that they hope to join the new season when it kicks off on March 15. The FIA has allowed weaker teams to compete with 2014 engines exempting them from getting new cars. Nevertheless, Marussia will still need to acquire engines from Ferrari. They owe Ferrari $25.15 million from last year’s deal and unfortunately, the Italian team was not among the secured creditors with assurity of getting paid back.

Marussia which went into administration late last year is still looking for a new owner too. Their cars remain in Abu Dhabi which makes it an ideal place to ready them for the season debut in Melbourne. They missed the last 3 races of the previous season but are eligible to join the 2015 championship as Manor Grand Prix.


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