Manor Racing go into administration
Discussion
http://www.bbc.co.uk/sport/formula1/38530855
BBC article:
Manor Racing have gone into administration and will collapse without new investment.
A source close to the team told BBC Sport that staff were informed of the development on Friday.
Manor and owner Stephen Fitzpatrick were unavailable for comment.
The UK-based team, who finished 11th and last in the championship last season, have been in talks with new investors but so far no deal has been concluded.
The source said several buyers had been lined up over the past few weeks and two had gone as far as conducting a due diligence process.
But none provided the funds necessary to buy the team, nor was there any proof they had the money to run it.
Owner Stephen Fitzpatrick, the boss of the energy company Ovo, decided to put the team into administration on Thursday night and staff were told by chief executive officer Thomas Mayer and administrators FGRP on Friday morning.
The administrators are continuing attempts to keep the team afloat ahead of the start of the new season in Australia on 26 March.
Munter said:
For me it's more indication the money in F1 needs to be spread further down the field.
It's not like they are doing a terrible job. They almost were not the worst team this year. If we want 22 cars on the grid, it has to be possible to finish as the last team and survive financially.
Should be some criteria that says if teams finish low in the order, but consistently finish races and lap within 107% then they get £XXM as a retainer.It's not like they are doing a terrible job. They almost were not the worst team this year. If we want 22 cars on the grid, it has to be possible to finish as the last team and survive financially.
BrettMRC said:
Should be some criteria that says if teams finish low in the order, but consistently finish races and lap within 107% then they get £XXM as a retainer.
I've always thought that - give teams $500,000 for each car that starts a GP so the smaller teams actually get a half decent income. Won't make a huge difference to the $200 miliion+ teams but the minnows may survive long enough to reach the money paying places.BrettMRC said:
Should be some criteria that says if teams finish low in the order, but consistently finish races and lap within 107% then they get £XXM as a retainer.
Does not need to be that complicated, give all teams the same 'basic' amount then award more according to points gained, no more 'here's $50mill because you are Red Bull' or whatever.
Later news reports state that the writing started on the wall after they lost 10th place in the points to Sauber and the cash that came with it.
The two MB drivers going to Force India and Sauber can't have helped either.
Always a shame when the boys at the back go down, although I struggle to see what moitvates them in the first place TBH, it's time the pot was given a good shake, sadly while those getting a big share are getting a big say it's not going to change anytime soon.
The two MB drivers going to Force India and Sauber can't have helped either.
Always a shame when the boys at the back go down, although I struggle to see what moitvates them in the first place TBH, it's time the pot was given a good shake, sadly while those getting a big share are getting a big say it's not going to change anytime soon.
FunkyNige said:
BrettMRC said:
Should be some criteria that says if teams finish low in the order, but consistently finish races and lap within 107% then they get £XXM as a retainer.
I've always thought that - give teams $500,000 for each car that starts a GP so the smaller teams actually get a half decent income. Won't make a huge difference to the $200 miliion+ teams but the minnows may survive long enough to reach the money paying places.I think really the only possible way of stopping this stuff from happening is having a few years whereby everybody collects the same money.
For more, the rule change should've coincided with everyone who finished last season getting the same money and a cap on spending that all teams get. Everyone starts from the same amount and uses the same amount and the cream rises to the crop from there.
Unfortunately that's not how reality works and greed takes over.
Admittedly also the teams that finish highest should get more prize money although that perpetuates the gap in budgets...
For more, the rule change should've coincided with everyone who finished last season getting the same money and a cap on spending that all teams get. Everyone starts from the same amount and uses the same amount and the cream rises to the crop from there.
Unfortunately that's not how reality works and greed takes over.
Admittedly also the teams that finish highest should get more prize money although that perpetuates the gap in budgets...
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