American F1 driver opens up on 'Loscar' bromance with Oscar Piastri
While Logan Sargeant was the talk of the Formula 1 world in Melbourne due to his cruel benching from Williams, his connection to Aussie…
Ladies and gentlemen, the Manor Racing Team have officially entered administration, meaning that in order to be allowed enough time to repay outstanding debts to creditors, an administrator – someone appointed by the court – takes over the company.
The financial situation at Manor is so dire that the team are on the verge of fully collapsing, and without the financial backing needed to get back in business, Manor will most likely be unable to compete this year in Formula One.
So, what needs to happen between now and the start of the season for Manor to be on that starting grid in Australia?
Manor desperately needs an investment from someone to keep them going, and while they are in talks with many investors, a deal is nowhere near the point of certainty.
If you can remember back to around the start of 2015, Manor was saved at the very last minute by owner Fitzpatrick while they were in administration, and the same could happen here again.
As for whether anyone would invest in Manor is a very tough call, especially considering the fact that this is the second time the team has gone into administration within about two years.
With all that said, let’s consider why Manor went into administration in the first place.
Manor had difficulty this year gaining sponsors. They were nowhere near as supported by commercial sponsors as other teams, whether that be because of their poor financial status or reputation – or their poor on-track results.
Sponsors played a role in the lack of income coming into the team, but Sauber pipping them for tenth and second last place last year cost Manor a staggering 10-million Euros, and possibly even their future.
Manor look to be facing very tough times, and will be fighting for their future right up until the first round of the championship in March 2017.
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