Manor’s participation in the 2017 world champion has been cast into serious doubt as the team nears ‘financial collapse’, according to reports.
Sky News has revealed the team, backed by energy executive Stephen Fitzpatrick for the last two years, is on the verge of entering administration after a number of unsuccessful talks with potential investors, putting two hundred jobs at risk.
Manor lost out on millions of pounds in prize money, which may well have kept them afloat, after Felipe Nasr’s ninth place at the penultimate race in Brazil demoted them to the foot of the standings behind rivals Sauber.
Barring a last-gasp deal, Just Racing Services Limited will be placed into administration of the Banbury outfit, who entered F1 under the guise of Virgin Racing in 2010.
It emerged several weeks ago that talks were taking place with US race promoter Tavo Hellmund, but is understood that discussions have broken down.
Efforts to find a buyer are ongoing, yet the team’s pre-season financial woes would likely consign them to yet another season cut adrift at the back of the grid.
Manor had yet to confirm either of their drivers for the 2017 campaign, though Nasr and Esteban Gutierrez, having been ousted from Sauber and Haas respectively, were among those linked.
The news will no doubt come as a grave concern to new owners Liberty Media, preparing to take the reins of a sport which has already seen two teams, in the form of HRT and Caterham, collapse over the last four years.
Time is running out for a rescue deal, with testing for the new season underway at the Circuit de Barcelona-Catalunya on February 27.
