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SBD Global/April 9, 2014/Franchises

Russian Car Manufacturer Marussia Motors Gives Up Control Of F1 Team

Marussia F1 team spokesperson Tracy Novak said that Marussia Motors "has ditched its carmaking operation and relinquished ownership" of the F1 team, according to R-SPORT. Russian carmaker Marussia Motors "took a majority stake in the then-Virgin F1 team in 2010." It "was billed as a way for the Russian company to market its B1 and B2 supercars to prospective buyers around the world." However, that plan "appears dead" after Novak said that the supercar projects "were no longer operational." She insisted that the change "would not affect the running of the F1 team." Novak: "The supercar project was ambitious, but it is disappointing that it was unable to get to market. There is no impact whatsoever on the Formula 1 team’s operation." She added, "There is no link between the two companies (Marussia Motors and Marussia F1 Team) financially or technically. The F1 team has been an independent operation for some time" (R-SPORT, 4/8).
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