One week left for Manor F1 to be saved

ByAutoSport

Published 12/01/2017 at 12:49 GMT

The Manor Formula 1 team is running out of time to be saved ahead of the start of the 2017 season, with sources indicating that the outfit has a week left to find a buyer.

Eurosport

Image credit: Eurosport

Just Racing Services Ltd, the company that operates Manor, went into administration last week as the team failed to find an investor that would secure its future.

While the team is it pursuing all possible avenues to remain on the grid, time is running out.

Despite the financial situation, the 2017 car is ready to go into production at the team's Banbury headquarters.

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However, due to being in administration, production of the parts cannot start as the administrators have blocked all extra expenditure in order to protect the creditors.

Manor is believed to be in a situation where it could still be ready for Melbourne, but it needs to find an investor before the end of next week.

A source close to the situation indicated that the deadline to find a solution is January 20. After that, the fate of the team will be sealed.

Entrepreneur Tavo Hellmund had emerged as the favourite to complete a takeover of Manor in December, but a possible deal fell through.

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